Chapter 36ASC 605 REVENUE RECOGNITION

REVENUE RECOGNITION—GENERAL PRINCIPLES

   Subtopics

   Problems in Revenue Recognition

   Technical Alert – ASU 2014-09, Revenue from Contracts with Customers (Topic 606)

LONG-TERM CONSTRUCTION CONTRACTS (ASC 605-35)PERSPECTIVE AND ISSUES

DEFINITIONS OF TERMS

CONCEPTS, RULES, AND EXAMPLES

   Methods of Accounting

   Costs Incurred

   Types of Contracts

   Revenue Measurement

   Contract Losses

   Combining and Segmenting Contracts

   Joint Ventures and Shared Contracts

   Accounting for Change Orders

   Accounting for Contract Options

   Accounting for Claims

   Accounting Changes

SERVICE REVENUES (ASC 605-20 AND ASC 605-45)PERSPECTIVE AND ISSUES

DEFINITIONS OF TERMS

CONCEPTS, RULES, AND EXAMPLES

   Service versus Product Transactions

   Revenue Recognition Methods

   Expense Recognition

   Initiation and Installation Fees

   Other Guidance to Accounting for Service Transactions

SALES WHEN COLLECTION IS UNCERTAINPERSPECTIVE AND ISSUES

DEFINITIONS OF TERMS

CONCEPTS, RULES, AND EXAMPLES

   The Installment Method

   The Cost Recovery Method

REVENUE RECOGNITION WHEN RIGHT OF RETURN EXISTS (ASC 605-15)PERSPECTIVE AND ISSUES

DEFINITIONS OF TERMS

CONCEPTS, RULES, AND EXAMPLES

REVENUE ARRANGEMENTS WITH MULTIPLE DELIVERABLES (ASC 605-25)

PERSPECTIVE AND ISSUES

   Terms used in ASC 605-25

   Summary of guidance provided by ASC 605-25

   Units of accounting

REVENUE RECOGNITION—GENERAL PRINCIPLES

Subtopics

ASC 605, Revenue Recognition, contains ten ...

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