Power and Utility 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:

    • James Barker, Deloitte LLP (Co-Chair)
    • Randall Hartman, Edison Electric Institute (Co-Chair)
    • Steve Breininger, PPL Electric
    • Noel Christmann, Entergy
    • Lori Colvin, SouthWest Gas
    • Zach Deakins, Calpine
    • Dennis Deutmeyer, Ernst & Young LLP
    • Beth Farr, NextEra
    • Darin Kempke, KPMG LLP
    • Matt Kim, Chesapeake Utilities
    • Joe Martin, American Gas Association
    • Jim Nowoswiat, ParenteBeard LLC
    • Tom Reichart, Exelon
    • Sean Riley, PricewaterhouseCoopers LLP
    • Eric Thiergartner, American Electric Power
    Staff Contact: revrecstaff@aicpa.org


    Below is a list of potential revenue recognition implementation issues identified by the Power and Utilities 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 Scope clarification regarding tariff sales to regulated customers
    This implementation issue discusses whether revenues from sales under a regulated utility’s tariff (other than revenues from alternative revenue programs specifically excluded from the scope of Topic 606) are within the scope of Topic 606
    Submitted to the AICPA RRWG
    2 Accounting for contracts with price and/or volume variability
    3 Strip vs. step price arrangements
    4 Application of series guidance to storable commodities
    5 Accounting for contract modifications
    This implementation issue discusses blend-and-extend modifications (whether they include a financing element), as well as treatment of partial terminations.
    Submitted to FASB TRG
    6 Partial terminations
    7 Accounting for bundled arrangements
    8 Revenue timing for RECs
    9 Contributions in Aid of Construction
    10 Accounting for sales of non-financial assets


    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 Power and Utility Entities Revenue Recognition Task Force recommends the following AICPA products for current revenue recognition issues:

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