Timeshare Entities Revenue Recognition Task Force 


    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:

    • Phil Nix, Deloitte LLP (Co-Chair)
    • Kathy Pighini, Marriot Vacations (Co-Chair)
    • Sarah Clayton, Starwood Vacation Rental
    • Sonya Dixon, Holiday Inn Club Vacations
    • Micheal Duncan, Wyndam Vacations Ownership Inc.
    • Bill Powell, BDO LLP
    • Tracy L. Gainer, Hyatt Residential Group
    • Lisa Gann, Diamond Resorts International
    • Melanie Giorno, Ersnt & Young LLP
    • William Harvey, Interval International
    • Allen Klingsick, Hilton Worldwide
    • Raymond Lopez, Bluegreen Corporation
    • Lori Overholt, Vacation Sales Associates
    • Robert L. Shaw Jr., Hilton Grand Vacations
    • Tracy Willis, Disney
    Staff Contact: Jennifer Clayton, jclayton@aicpa.org

    IDENTIFIED REVENUE RECOGNITION IMPLEMENTATION ISSUES

    Below is a list of potential revenue recognition implementation issues identified by the Timeshare 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).

    Issue # Description of Implementation Issue
    1 Real Estate versus Lease (definition of what is deemed timeshare under ASC 978-10-15-4)
    2 Relative Sales Value
    3 Collectibility
    4 Incentives
    5 Continuing Involvement/Multiple element
    6 Application of Percentage of Completion
    7 Buyer Commitment (FASB 66 criteria)
    8 Upgrade and Reload
    9 Sale/Leaseback
    10 Incidental Operations
    11 Gross Versus Net Reporting: Cost reimbursements & Incentives
    12 Retrospective v modified retrospective
    13 Disclosure issues


    FEEDBACK REQUESTED

    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 revreccomments@aicpa.org by the dates noted below:

    Issue # Comment Due Date


    The Timeshare Entities Revenue Recognition Task Force recommends the following AICPA products for current revenue recognition issues:



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