Automotive entities face unique issues as they apply ASC 606: Gain a deeper understanding of how to navigate these issues.
Analysis and examples of when a significant financing component exists in a contract and how to account for it under ASC 606.
Analysis and examples of the different types of Stand-Ready Obligations under ASC 606.
Analysis of the collectibility requirement of ASC 606, including accounting for contract’s with initial and subsequent collectibility issues.
A breakdown of the methods used to identify standalone selling price.
Analysis and example of estimating variable consideration and applying the constraint under ASC 606.
Analysis and illustrative examples of the two criteria given in ASC 606 for allocating variable consideration to performance obligations.
Depending on the type, a right of return may be a variable consideration under ASC 606.
Explore the process of continued improvement to ASC 606 as stakeholders raise concerns, questions, and implementation issues to the TRG.
Analysis of step five of ASC 606’s model when a single performance obligation has multiple non-distinct promises, including restrictions, principles, and examples.
Analysis and examples of the criteria for determining if contracts entered into with a customer at or near the same time must be combined for revenue recognition.
Collaboration between FASB and IASB resulted in ASC 606. Filers have choice between Full Retrospective and Modified Retrospective Adoption methods.
Summary of each of the five steps of ASC 606 and key issues entities need to consider when completing each step.
Stay up-to-date on an entity’s required ASC 606 transition date and its most beneficial transition method, which varies based on entity type and industry.
Allocating variable and fixed discounts to the transaction price under ASC 606, includes significant changes from ASC 605 to ASC 606.