Some cars now require software updates. How are these accounted for? This post covers Tesla cars, software updates, and ASC 606, Revenue Recognition.
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This posts discusses the accounting for training costs to fulfill a contract, which is a common practice issue under IFRS 15.
This post discusses consideration of a significant financing component under ASC 606 when determining the transaction price.
Assessing collectibility under ASC 606 is required in step 1, but what happens if things change after the contract is signed?
The FASB has clarified whether a transaction should be accounted for as an exchange (ASC 606) or a contribution (ASC 958).
This post explores the accounting for shipping and handling activities, which is a common revenue recognition practice issue under ASC 606.
Accounting for warranties under ASC 606 will depend on the type of warranty. This post discusses the various requirements!
This Caddyshack-inspired blog post discusses the accounting for nonrefundable initiation fees under ASC 606.
Using a "real-life" example, this post explores the revenue recognition criteria related to principal vs agent determination under ASC 606.
The revenue recognition criteria within ASC 606 and IFRS 15 focuses on control (as opposed to risks and rewards), but does it matter?
This blog shares our insights and conversations about accounting, auditing, and training matters. It is hosted by GAAP Dynamics