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?

31 October 2022

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 of the contract, or both. A

US Revenue guide 2.9

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

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

Where Should I Start?

31 October 2022

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 of the contract, or both. A

In summary...

More Less

US Revenue guide 2.9

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

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

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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 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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