Wiley Revenue Recognition plus Website

2Step 2—Identify the Performance Obligations

1. Overview
2. Promises in Contracts with Customers
   1. Implicit Promises
      1. Constructive Performance Obligations
   2. Goods to Be Provided in the Future
   3. Example 2.1: Implied Performance Obligation
   4. Activities Not Included as Performance Obligation
   5. Example 2.2: Activities Not Included as Performance Obligations
   6. What is a Promised Good or Service?
   7. Shipping and Handling Services
3. Determining Whether a Good or Service is Distinct
   1. Criterion 1: Good or Service is Capable of Being Distinct
      1. Customer Can Benefit from a Performance Obligation
   2. Example 2.3: Capable of Being Distinct
   3. Example 2.4: Not Capable of Being Distinct
   4. Criterion 2: Distinct within the Context of the Contract
      1. Separately Identifiable Indicators
   5. Example 2.5: Significant Integration Service
   6. Example 2.6: Significant Customization
   7. Example 2.7: Highly Independent or Highly Interrelated
   8. Example 2.8: Multiple Performance Obligations
   9. Promised Good or Service is Not Distinct
   10. Example 2.9: Bundling Goods and Services that are Not Distinct
4. Series of Distinct Goods or Services that are Substantially the Same and have the Same pattern Of Transfer
   1. The Series Provision
   2. Example 2.10: Series of Distinct Goods or Services Treated as a Single Performance Obligation
5. Comparison with Legacy Standards
   1. IFRS
      1. U.S. GAAP

Technical Alert

Subsequent to issuance of the Standard, the TRG surfaced several issues related to identifying performance obligations:

• determining whether a good or service ...