Revenue recognition

The revenue recognition standard (ASC 606) provides a comprehensive, industry-neutral model for recognizing revenue from contracts with customers.

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12.2 Scope of ASC 853

ASC 853-10-15-2 describes the scope of ASC 853, while ASC 853-10-15-2 includes the criteria to be a service concession arrangement.

US Revenue guide 12.2

31 May 2023

11.1 Overview–contract costs

Reporting entities sometimes incur costs to obtain a contract that otherwise would not have been incurred. Reporting entities also may incur costs to

US Revenue guide 11.1

31 October 2022

2.9 Contract modifications

A change to an existing contract is a modification. A contract modification could change the scope of the contract, the price, or both.

US Revenue guide 2.9

31 October 2022

1.2 High-level overview of the revenue standard

Revenue is defined in the revenue standard as: Definition from ASC 606-10-20 Revenue: Inflows or other enhancements of assets of an entity or settlements

US Revenue guide 1.2

28 February 2022

3.4 Assessing whether a good or service is “distinct”

Each distinct good or service is a performance obligation. Performance obligations are the unit of account for purposes of applying the revenue standard

US Revenue guide 3.4

28 February 2022

Where Should I Start?

12.2 Scope of ASC 853

ASC 853-10-15-2 describes the scope of ASC 853, while ASC 853-10-15-2 includes the criteria to be a service concession arrangement.

In summary...

More Less

US Revenue guide 12.2

31 May 2023

11.1 Overview–contract costs

Reporting entities sometimes incur costs to obtain a contract that otherwise would not have been incurred. Reporting entities also may incur costs to

In summary...

More Less

US Revenue guide 11.1

31 October 2022

2.9 Contract modifications

A change to an existing contract is a modification. A contract modification could change the scope of the contract, the price, or both.

In summary...

More Less

US Revenue guide 2.9

31 October 2022

1.2 High-level overview of the revenue standard

Revenue is defined in the revenue standard as: Definition from ASC 606-10-20 Revenue: Inflows or other enhancements of assets of an entity or settlements

In summary...

More Less

US Revenue guide 1.2

28 February 2022

3.4 Assessing whether a good or service is “distinct”

Each distinct good or service is a performance obligation. Performance obligations are the unit of account for purposes of applying the revenue standard

In summary...

More Less

US Revenue guide 3.4

28 February 2022

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