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Revenue Recognition Serial Part 5: Step 4 - Allocating the Transaction Price

Revenue Recognition Considerations for the Manufacturing Industry

All entities will have to reevaluate their revenue recognition processes when the FASB's Accounting Standard Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) is adopted, beginning with those early adopting in 2017.

Narrow Scope Improvements Proposed to Revenue Recognition Guidance

Six proposed, small-scale changes have been added to the list of updates to ASU 2014-09, Revenue from Contract with Customers (Topic 606). The exposure draft of the changes, released by the Financial Accounting Standards Board (FASB), does not materially change the five-step process for revenue recognition put in place by ASU 2014-09.

Top Revenue Recognition Considerations for the Construction Industry

The new revenue recognition standard has been issued, and as the Financial Accounting Standards Board (FASB) finalizes implementation guidance, your company should prepare for the effect the standard will have on accounting and reporting revenue under construction contracts.

Principal Versus Agent Changes Proposed to Revenue Recognition Standard

The determination of whether an entity is performing as a principal or agent is a challenge under current revenue recognition guidance. The initial release of the FASB's Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) did not notably clarify the rules.
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