Revenue Recognition
FEATURED ARTICLES
All articles in this category pertain to revenue recognition. Revenue recognition is the accounting principle providing guidance on when revenue is recorded and how to account for it. The revenue recognition standard for accounting is ASC 606, which outlines the framework for recognizing revenue in contracts.
Learn more about revenue recognition below.
Recent articles
FASB Clarifies Accounting for Acquired Revenue Contracts with Customers
Learn about FASB’s new update about acquired revenue contracts.
Relief for Private Company Franchisors applying ASC 606
How private company franchisors apply ASC 606.
FASB Issues Practical Expedient for Private Franchisors Applying Topic 606
Learn how private company franchisors apply Topic 606.
FASB Simplifies How Private Company Franchisors Identify Certain Performance Obligations
February 2021 The FASB issued ASU 2021-02 (“ASU”) to provide franchisors that are not public business entities with a practical expedient to account for certain pre-opening services as distinct from the franchise license when identifying performance obligations under...
Proposed Improvements for Acquired Revenue Contracts with Customers
The proposed improvements for acquired revenue contracts with customers are explained.
Sale-leaseback Accounting under ASC 606 and ASC 842 Explained
Learn about sales-leaseback accounting under ASC 842.