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:

  • Melanie Giorno, Ersnt & Young LLP (Co-Chair)
  • 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
  • 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, 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 Status
1 Collectability
This implementation issues discusses considerations for identifying performance obligations within time-share sales contracts.
Submitted to AICPA RRWG
2 Identify the Performance Obligations
This implementation issue discusses considerations for evaluating collectibility of sales of time-sharing interests, including determining whether collection of the transaction price is probable at contract inception and identifying and accounting for amounts as variable consideration in determining collectibility of the transaction price.

Submitted to AICPA RRWG
3 Application of the Percentage of Completion

4 Allocating the Transaction Price

5 Recognition of Revenue

6 Upgrade and Reload

7 Consolidations
8 Contract Costs

9 Gross versus Net Reporting: Cost Reimbursements & Incentives
10 Retrospective versus Modified Retrospective
11 Disclosure Issues
12 Impact on Accounting for Owner Associations


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





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