Wiley GAAP 2021, 2nd Edition

48ASC 808 COLLABORATIVE ARRANGEMENTS

1. Perspective and Issues
   1. Technical Alert
      1. Guidance
      2. Effective Date
      3. Transition
   2. Subtopic
   3. Scope
      1. Transactions and Events
      2. What Constitutes a Collaborative Arrangement?
      3. Criteria for Collaborative Arrangements
      4. Timing and Assessment of Involvement
      5. Examples of Joint Operating Activities
   4. Overview
2. Definitions of Terms
3. Concepts, Rules, and Examples
   1. Presentation and Disclosure
   2. Determining the Applicability of ASC 808
      1. Example of a Collaborative Arrangement

PERSPECTIVE AND ISSUES

Technical Alert

In November 2018, the FASB issued ASU 2018‐18, Collaborative Arrangements (Topic 808)—Clarifying the Intersection between Topic 808 and Topic 606. The ASU provides guidance on how to assess whether certain transactions between collaborative arrangement participants should be accounted for under ASC 606.

Guidance The new guidance provides more comparability in the presentation of revenue by allowing organizations to only present units of account in collaborative arrangements that are within the scope of ASC 606 together with the revenue accounted for under ASC 606. The new guidance affects the scope section of ASC 808. Those changes can be found in the Scope section below. Changes to the presentation and disclosure section can be found in the disclosure checklist in Appendix B.

Effective Date The ASU is affective

• For public companies:
  • Fiscal years beginning after December 15, 2019, and interim periods within those fiscal years
• For all other ...