We continue our series on challenges with adoption of FASB Accounting Standards Codification (FASB ASC 606), Revenue from Contracts with Customers, providing sanitized excerpts of workpapers purporting to provide audit evidence regarding compliance with FASB ASC 606 and detail why we feel the excerpts are either insufficient or incorrect. In this report, we detail the challenges faced with a shift in FASB ASC 606 to include variable consideration in the transaction price (subject to a constraint) and potentially recognize the
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Revenue from Contracts with Customers: Unexploded Ordinances in WPs - Part III - Variable Consideration
Jul 16, 2025 · 1 min read
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