Determine the transaction price of a contract with noncash consideration under ASC 606, including when and how to measure the variable consideration caused by fluctuating fair value.
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Analysis and examples of price concessions based on either the customer’s expectation or the company’s intent
The first step of ASC 606 is to identify the contract with a customer. ASC 606 outlines many criteria, including legal enforceability and collectability.
This case study explains how to identify price concessions and recognize revenue for transactions that contain a price concession.
Analysis of ASC 606’s treatment of payments paid to customers, including the payment types and the timing of recognizing a reduction in revenue.
