Revenue Recognition: Accounting Guide [Subscription]
Navigate FASB ASC 606 with industry-specific accounting implementation guidance designed to help preparers and other accounting professionals address revenue recognition issues across companies and industries.
Format
Subscription
Availability
1 year
Product Number
WARXX12
This guide is also available in a print edition.
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Apply revenue recognition guidance with confidence
Revenue recognition remains one of the most judgment-intensive areas of financial reporting. This guide helps preparers and other accounting professionals understand and apply FASB ASC 606, Revenue from Contracts with Customers, in a practical, industry-specific context.
Industry-specific implementation insight
The guide addresses implementation issues across a variety of industries and includes nonauthoritative guidance developed by AICPA industry task forces and approved by FinREC. It is designed to help users evaluate contracts, performance obligations, transaction price, allocation, timing of revenue recognition, related costs and disclosure considerations.
Current updates and context
This edition of the guide incorporates certain conforming changes resulting from the issuance of authoritative guidance after the first edition was originally published. It also includes updates for the airline industry that are consistent with the enhancive changes to the newest edition of the AICPA Audit and Accounting Guide Airlines.
Updates to accounting guidance are reflected primarily in footnotes and do not alter the positions taken by FinREC. Those positions were based on facts and circumstances stated in the guide and supported by guidance in effect when the industry implementation papers were finalized between 2015 and 2018.
Who Will Benefit
- Preparers of financial statements
- Controllers, accounting managers and financial reporting professionals
- Technical accounting and revenue recognition specialists
Key Topics
- FASB ASC 606, Revenue from Contracts with Customers
- Application of the five-step revenue recognition model
- Industry-specific accounting implementation issues
- Performance obligations and transaction price
- Costs to obtain or fulfill a contract
- Revenue recognition disclosures
- Share-based consideration updates
- Implementation accounting guidance developed by FinREC and industry task forces
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