Wiley GAAP 2015: Interpretation and Application of Generally Accepted Accounting Principles 2015

1. If an entity uses the milestone method of revenue recognition, disclose the following:
a. The accounting policy for using the milestone method.	_____
b. Describe each such arrangement.	_____
c. Describe each milestone and related contingent consideration.	_____
d. Note whether each milestone is substantive.	_____
e. The factors considered in determining whether the milestones are substantive.	_____
f. The amount of consideration recognized during the period for the milestones.	_____
(FASB ASC 605-28-50-2)
605-35 Construction-Type and Production-Type Contracts
Percentage of Completion Method
1. If the percentage-of-completion method is used, the method of measuring extent of progress toward completion (e.g., cost-to-cost, efforts-expended).	_____
(FASB ASC 605-35-50-2)
2. An entity that departs from use of the percentage-of-completion method as its basic accounting policy in the circumstances described in paragraph 605-35-25-61 shall disclose such a departure from the basic policy.	_____
(FASB ASC 605-35-50-3)
Completed-Contract Method
3. If the completed-contract method is used, disclose the specific criterion used to determine when a contact is substantially completed.	_____
(FASB ASC 605-35-50-4)
4. An entity that departs from use of the completed-contract method as its basic accounting policy in the circumstances described in paragraph 605-35-25-95 shall disclose such a departure.	_____
(FASB ASC 605-35-50-5)
Contract Claims ...