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https://www.bdo.com/insights/industries/manufacturing-distribution/revenue-from-contracts-with-customers-–-manufactur
Jan 01, 2018 · Revenue recognition on the service warranty should commence starting with the end of the assurance warranty period. BDO Observation: Under existing GAAP, a separately priced extended warranty is accounted for as a separate accounting unit for which revenue is recognized over the extended warranty period, similar to the approach under ASC 606.
https://www.revenuehub.org/common-asc-606-issues-power-and-utility-entities/
The entity would recognize revenue related to each obligation according to its own revenue recognition timing pattern. FinREC believes that the revenue for most electricity and capacity performance obligations should be recognized over time as measured …
https://bizfluent.com/12811028/what-are-the-differences-between-ifrs-and-us-gaap-for-revenue-recognition
Jan 21, 2020 · The Revenue Recognition Principle: This principle declares revenue to be recognized in financial statements at the end of delivery or transaction no matter when the cash is actually received. Revenue is to be recorded when the service is complete. This is …
https://www.forbes.com/sites/greatspeculations/2019/10/10/how-companies-implemented-the-new-revenue-recognition-standard/
Oct 10, 2019 · Since costs are typically incurred prior to the delivery of a unit, this new standard accelerates the recognition of revenue for contracts that had previously been accounted for …Author: David Trainer
https://www.industryweek.com/finance/budgeting-reporting/article/21961375/when-can-manufacturers-actually-record-their-sales
Revenue recognition presents unique financial reporting risks in many different industries, and in fact, is one of a couple of areas that is a presumed fraud risk by a company’s external auditors. Recognition of revenue can be delayed by estimations of what a product actually costs to produce, when it was delivered or how product returns and guarantees are handled.
https://www.sec.gov/interps/account/sabcodet13.htm
The staff would not object to revenue recognition for the equipment upon delivery (presuming all other revenue recognition criteria have been met for the equipment) if the seller demonstrates that, at the time of delivery, the equipment already meets all of the criteria and specifications in the customer-specific acceptance provisions.
https://quizlet.com/287483901/chapter-18-revenue-recognition-flash-cards/
Recognizing revenue from a performance obligation over time-Measure progress toward completion---Method for measuring progress should depict transfer of control from company to customer.---Most common are cost-to-cost and units-of-delivery methods. ---Objective of methods is to measure extent of progress in terms of costs, units, or value added.
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