The FASB and IASB issued their converged standard on revenue recognition in May 2014. The standard provides a comprehensive, industry-neutral revenue recognition model intended to increase financial statement comparability across companies and industries and significantly reduce the complexity inherent in today's revenue recognition guidance.
Identifying performance obligations is the second step in the new revenue model. Listen in to hear how to take that one small step, in what’s going to be a giant leap of implementation. Hear PwC’s Michele Marino define what a performance obligation is, the criteria for determining whether goods or services in a contract should be accounted for separately or as a group, and share an example of applying the guidance.
Our global accounting and financial reporting guide describes the accounting for revenue from contracts with customers under the converged U.S GAAP and IFRS revenue standard (ASC 606) issued in May 2014. It has been prepared to support entities as they identify the implications of the new revenue recognition standard, evaluate its impact (on business strategies, processes, systems, controls, financial statement recognition and required disclosures) and prepare for implementation. Read more
See PwC’s 2016 global guide to accounting for revenue from contracts with customers, now with updated content.
The FASB and IASB have released their converged revenue recognition standard, Revenue from contracts with customers (ASC 606). PwC provides details on the new revenue accounting standard and the business implications for companies and industries on all revenue transactions as they prepare for implementation of the new standard.
Identifying performance obligations is the second step in the new revenue model. Listen in to hear how to take that one small step, in what’s going to be a giant leap of implementation.
Need an update on standard setting activities for Q2? Look no further. Listen in to hear about the new revenue updates, financial instrument impairment, non-GAAP and more.
The IFRS15 accounting standard on revenue recognition brings profound implications for communications companies and operations.
PwC generally supports the FASB efforts to respond to concerns raised by constituents about the new revenue standard.
This quarterly publication is designed to keep directors informed about the latest accounting and financial reporting issues.
During this recorded webcast we share updates on key industry issues, including a discussion on disclosure and transition methods, the latest from the American Institute of CPAs (AICPA), EEI and AGA working groups, and more.
During this recorded webcast we share insights on the top challenges that industrial products and manufacturing companies are facing in adopting the new revenue standard.
In this webcast, specialists from PwC’s national office are joined by colleagues from the accounting advisory practice to discuss the accounting models for debt and preferred stock modifications and hot topics in these areas. Watch the replay or participate in the on demand (CPE-eligible) version of the webcast.