Analysis of guidance and criteria under ASC 606 for distinct goods or services, along with case studies and examples.
Software no longer has industry-specific guidance. See how to recognize revenue for Cloud-Software hybrid contracts under ASC 606. Extended example included.
Accounting Standards Codification (ASC) 606 places the responsibility on management to recognize revenue in a way that “depict[s] the transfer of promised goods and services to customers in an amount … [they] expect to be entitled,” per ASC 606-10-05-3. For…
In many FinTech contracts, services get cheaper with higher volume. This article shows the proper accounting for such a contract under ASC 606.
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 of ASC 606’s treatment of payments paid to customers, including the payment types and the timing of recognizing a reduction in revenue.
Analysis of the three factors for determining separate performance obligations and assessing the timing of revenue recognition for installation and implementation services