Wiley Revenue Recognition plus Website

Executive Summary

1. What Is Revenue?
   1. Revenue versus Gains
      1. U.S. GAAP
   2. IFRS
2. The New Revenue Standard
3. Development of Revenue Guidance
   1. U.S. GAAP
   2. IFRS
4. The Revenue Recognition Project
   1. The New Standards
   2. Project Goals
      1. Customer Loyalty Programs
5. Scope
   1. Scope Exceptions
   2. Example ES.1: Nonmonetary Exchanges to Facilitate Sales to Customers or Potential Customers
   3. Contracts Partially in Scope
   4. Example ES.2: Contract Partially Out of Scope
   5. Sale of Transfer of Nonfinancial Assets
6. Effective Dates
   1. Changes to Effective Dates
      1. U.S. GAAP
      2. IFRS
   2. Other Changes to the Standard
7. Implementation Options
   1. Full Retrospective Approach
   2. Modified Retrospective Approach
8. Objective of the Standard
9. Core Principle and the Five Steps of the Revenue Recognition Model
   1. Example ES.3: Application of the Core Principle Through the Five Steps
10. Disclosures Required by the Standard
    1. Forming and Documenting Professional Judgment
11. Disclosures Required for a New Standard
12. Other Changes Included in the Standard
13. SEC Response
14. Industry-Specific Guidance Superseded
15. AICPA Industry Committees
16. Changes to Industry-Specific Guidance
17. Transition Resource Group
18. Appendix: Status of Issues Brought to the Boards

What Is Revenue?

U.S. GAAP

Revenue: Influx or other enhancement of assets of an entity or settlements of liabilities (or a combination of both) from delivering or producing goods, rendering services, or other activities that constitute the entity's ongoing major or central operations. (ASC 606-10-20)

IFRS

Revenue: Income ...