This article explains what types of behavior with regards to implementing the new revenue recognition standard are receiving comments from the SEC.
Implementing ASC 606 requires a substantial amount of time and expertise, with specific challenges rising in each industry. Gain a deeper understanding of the key issues that the retail and consumer products industry faces in the transition to ASC 606.
Key findings of PwC’s Revenue Recognition Survey and guidance on using this interactive tool. Expectations and best practices for SAB 74 Disclosures.
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.