Wiley GAAP 2018, 16th Edition

40ASC 606 Revenue from Contracts With Customers

1. Overview
   1. What Is Revenue?
      1. Revenue
      2. Revenue versus Gains
   2. The New Revenue Standard
   3. Development of Revenue Guidance
   4. The Revenue Recognition Project
      1. The New Standard
      2. Project Goals
      3. Customer Loyalty Programs
   5. The Transition Resource Group
   6. Scope
      1. Scope Exceptions
      2. Contracts Partially in Scope
      3. Sale or Transfer of Nonfinancial Assets
   7. Effective Dates
   8. Other Changes
   9. Implementation Options
      1. Full Retrospective Approach
      2. Modified Retrospective Approach
   10. Objective of the Standard
   11. Core Principle and the Five Steps of the Revenue Recognition Model
       1. Core Principle:
       2. Five Steps
2. Step 1: Identify the Contract with the Customer
   1. Overview
   2. Assessing Whether Contracts Are Within the Scope of the Standard
      1. Enforceable Rights and Obligations
      2. The Five Contract Criteria
   3. Collectibility Threshold
      1. Assessing Collectibility
   4. Contract Recognition
   5. Arrangements Where Contract Criteria Are Not Met
      1. Reassessment
   6. The Portfolio Approach and Combining Contracts
      1. A Practical Expedient
      2. Combination of Contracts Required
      3. Assessing Collectability of a Portfolio of Contracts
   7. Identifying the Customer
      1. Collaborative Arrangements
      2. Arrangements with Multiple Parties
3. Step 2: Identifying the Performance Obligations
   1. Overview
   2. Promises in Contracts with Customers
      1. Implicit Promises
      2. Goods to be Provided in the Future
      3. Activities not Included as Performance Obligations
      4. What is a Promised Good or Service?
      5. Shipping and Handling Services
   3. Determining Whether a Good or Service Is Distinct
      1. Criterion ...