AICPA Revenue Recognition Task Forces are charged with developing revenue recognition implementation issues that will provide helpful hints and illustrative examples for how to apply the new Revenue Recognition Standard.
Task Force Members:
- Karl Brunner, Deloitte & Touche LLP (Chair)
- Frank Albarella, KPMG LLP
- Rick Arpin, MGM Resorts International
- Chris Benak, Tropicana Entertainment, Inc.
- Bruce Bleakman, REDW LLC
- Tom Haas, American Casino & Entertainment Properties, LLC
- Kevin Karo, BDO USA LLP
- Richard Lobdell, Osage Casinos
- Sam Marcozzi, Grant Thornton LLP
- Anthony D. McDuffie, Boyd Gaming Corporation
- John Page, PricewaterhouseCoopers LLP
- Patrick Pruitt, Ernst & Young LLP
- Sandra Schulze, International Gaming Technology
- Mike Winterscheidt, Caesars Entertainment
Staff Contact: Renee Rampulla, firstname.lastname@example.org
IDENTIFIED REVENUE RECOGNITION IMPLEMENTATION ISSUES
Below is a list of potential revenue recognition implementation issues identified by the Gaming Entities Revenue Recognition Task Force. The list will be updated as the task force continues it discussions. Full revenue recognition implementation issues will be posted below for informal comments after review by the AICPA Financial Reporting Executive Committee (FinREC).
||Description of Implementation Issue
||The terms “win” and gross gaming revenue. This implementation issue discusses considerations for gaming entities in applying ASC 606 and determining how to recognize and report revenue or losses from gaming transactions.
||Net gaming revenue
||Accounting for base and incremental progressive jackpots amounts
||Wide Area Progressive operators’ accounting for base progressive and incremental progressive jackpots amounts
||Wide Area Progressive operators’ fees received from gaming entities
||Participation and Similar Arrangements
||Loyalty and Other Incentive Programs
||Managing Properties for Third Parties
||Accounting for Jackpot Insurance Premiums and Recoveries
||Accounting for Gaming Chips and Tokens
||Accounting for Racetrack Fees
||Illustrative Financial Statements
Draft Revenue Recognition Implementation Issues included for informal comment, when available, will be listed below.
Respondents should submit any comments including the implementation issue number to email@example.com by the dates noted below:
The Gaming Entities Revenue Recognition Task Force recommends the following AICPA products for current revenue recognition issues: