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Business combinations: In motion

Summary of the FASB’s recent standard-setting activities that affect, or could affect, business combination accounting under ASC 805.

  • Marshall, Brian
  • |


Contract costs

What do contract costs have to do with a revenue standard? Learn how to determine if contract costs are in the scope of Topic 606.


Background and recent activities

This section provides background on revenue recognition standards and a review of the changes since the issuance of ASU 2014-09.


Core principle and key steps

This video clip discusses the core principle of ASC Topic 606 and the five step model to applying the principle.


Effective date and transition

This video provides the deadlines for all entities and a description of possible transition methods for Topic 606.


Presentation and disclosure

This video provides an explanation of various presentation issues as well as the disclosures that are required.


Scope of Topic 606

This video explains the scope of ASC Topic 606, Revenue from Contracts with Customers, and where it applies.


Step 1

What is a customer contract? This video provides details on the first step of Topic 606 and how to identify a contract with a customer.


Step 2

This video clip goes into Step 2 and how to identify the performance obligations in a contract with a customer.


Step 3

What is the transaction price and how do you determine this? Learn how in Step 3 of applying the new revenue recognition standard.


Step 4

This video clip details how to allocate the transaction price when implementing ASC Topic 606, Revenue from Contracts with Customers.


Step 5

This video goes into the fifth and final step is recognizing revenue for Topic 606. Find out when a performance obligation is satisfied.


What's changing?

This video clip discusses the big picture items that will be changing with Topic 606, Revenue from Contracts with Customers.