The Five-Step Method

Summary of each of the five steps of ASC 606 and key issues entities need to consider when completing each step.

Input vs. Output Methods

Explanation of the input and output methods used to recognize revenue over time in ASC 606.

Revenue Recognition Over Time

Description of the three criteria in ASC 606 for determining whether revenue is recognized over time. Illustrative examples of each criterion are included.

Presentation of Contract Assets and Contract Liabilities

Analysis and examples of contract assets and liabilities under ASC 606, including the balance sheet presentation and the impacts of rights to payment.

Standalone Selling Prices

Analysis of ASC 606's three methods for estimating standalone selling prices and how to allocate allocate the transaction price to performance obligations.