CPEA report - Sales of nonfinancial assets under FASB ASC 606

We continue our revenue recognition series on implementation issues related to FASB Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers. The guidance in ASU 2014-09 is codified primarily in FASB Accounting Standards Codification (FASB ASC) 606, with the same title. ASU 2014-09 also created FASB ASC 610-20, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets, to account for any gain or loss resulting from the sale of nonfinancial assets that are not an output of an