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 & Touche LLP (Co-Chair)
- Kathy Pighini, Marriott Vacations Worldwide (Co-Chair)
- Sarah Clayton, Starwood Vacation Ownership
- Sonya Dixon, Holiday Inn Club Vacations
- Micheal Duncan, Wyndam Vacations Ownership Inc.
- Bill Powell, BDO USA LLP
- Tracy L. Gainer, Hyatt Residential Group
- Lisa Gann, Diamond Resorts International
- Melanie Giorno, Ersnt & Young LLP
- William Harvey, Interval Leisure Group
- Allen Klingsick, Hilton Worldwide
- Raymond Lopez, Bluegreen Corporation
- Lori Overholt, VSA Resorts
- Robert L. Shaw Jr., Hilton Grand Vacations Company
- Tracy Willis, Disney
Staff Contact: Jennifer Clayton, firstname.lastname@example.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).
||Description of Implementation Issue
||Identify the Performance Obligations
||Application of the Percentage of Completion
||Allocating the Transaction Price
||Recognition of Revenue
||Upgrade and Reload
||Gross versus Net Reporting: Cost Reimbursements & Incentives
||Retrospective versus Modified Retrospective
||Impact on Accounting for Owner Associations
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: