This Caddyshack-inspired blog post discusses the accounting for nonrefundable initiation fees under ASC 606.
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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?
Accounting for shipping and handling is changing under the new revenue recognition standard (ASC 606), creating a new difference with IFRS.
Need help implementing ASC 606 or IFRS 15? This post explores step 5 of the ASC 606 revenue model - recognizing revenue based on control.
Need help implementing ASC 606 or IFRS 15? This post explores step 4 of the ASC 606 revenue model - allocating the transaction price.
Need help implementing ASC 606 or IFRS 15? This post explores step 3 of the ASC 606 revenue model - determining the transaction price.
Need help implementing ASC 606 or IFRS 15? This post explores step 2 of the ASC 606 revenue model - identifying the performance obligations.
Need help implementing ASC 606 or IFRS 15? This post explores step 1 of the ASC 606 revenue model - identifying the contract with a customer.
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