- In this article we examine the final element, recognizing revenue as the entity satisfies the performance obligations.
- The AICPA Brokers and Dealers in Securities Revenue Recognition Task Force recently released a listing of nine potential ASC 606 revenue recognition implementation issues.
- ASC 606 - allocating the transaction price: the entity will recognize revenue for each performance obligation in the amount expected to receive in exchange for the promised goods or services.
- Baker Tilly’s revenue recognition specialists delve into ASC 606’s elements and explore determining the transaction price and consideration in this recent webinar.
- So far in this series, we have discussed how to identify a lease in a contract and how to classify a lease (as operating or finance type) based on the terms of the lease contract. In this article, we discuss the initial recognition and measurement of leases and how re-measurement is made when changes occur in the contract during the estimated initial period of the lease.
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