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Revenue Recognition Resource Center

Challenges and opportunities for companies adjusting to ASC 606 regulation requirements

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), which added Topic 606 to the FASB’s Accounting Standards Codification (ASC) and will replace almost all pre-existing revenue recognition guidance in legacy generally accepted accounting principles (GAAP) with a robust framework for addressing how an entity should account for its revenue. Implementation by calendar year-end public entities was required byJanuary 1, 2018 and is required by other calendar year-end entities no later than the year ending December 31, 2019.

This resource center provides access to high-level and detailed information about the new revenue recognition guidance. 

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Revenue recognition: Overview of ASC 606

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Revenue recognition: Overview of ASC 606

An overview of the new guidance in ASC 606 (as amended) and highlights of the fundamental changes ASC 606 will bring.

Changes to revenue recognition for franchisors

Changes to revenue recognition for franchisors

Franchisors are in for major changes in the way they recognize revenues. Learn more about revenue recognition for franchisors.

  • February 19, 2021

ASC 606 practical expedient for private-company franchisors

A recent ASU addresses the accounting by a private-company franchisor for certain pre-opening services provided to a franchisee.

  • February 03, 2021
OECD releases guidance on COVID19 transfer pricing adjustments

OECD releases guidance on COVID19 transfer pricing adjustments

The OECD’s guidance illustrates how the pandemic may impact arm’s length results, including lower profits and even losses.

  • January 21, 2021

Proposed accounting for acquired revenue contracts with customers

A recent proposed ASU addresses the accounting for revenue contracts with customers acquired in a business combination.

  • December 15, 2020
Taking your company's financial profile to a new level

Taking your company's financial profile to a new level

Our technical accounting consulting team help tackle your complex accounting needs with dedicated industry professionals.

  • November 18, 2020

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