Revenue recognition

The new standard (ASC 606) provides a comprehensive, industry-neutral revenue recognition model intended to increase financial statement comparability across companies and industries.

Where Should I Start?

28 February 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

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 of the contract, or both. A

US Revenue guide 2.9

28 February 2022

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

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

31 August 2020

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

Where Should I Start?

28 February 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

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 of the contract, or both. A

In summary...

More Less

US Revenue guide 2.9

28 February 2022

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

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

31 August 2020

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

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Revenue recognition podcasts

Insights from PwC

01 December 2021

Revenue recognition: A Q&A guide for software and SaaS entities

There are unique considerations when accounting for software and SaaS arrangements. PwC's latest Q&A guide helps these companies navigate common issues.

Click here US Technology, Media, and Telecommunications

Helpful links

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Revenue, leases and CECL: Lessons learned from implementation

Revenue contract modifications: 5 things you need to know

The new revenue standard: 5 things private companies need to know

Assessing collectibility under ASC 606: 5 things you need to know

Revenue contract costs: capitalize or expense?

COVID-19: Revenue contract modification questions, answered

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