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: firstname.lastname@example.org
IDENTIFIED REVENUE RECOGNITION IMPLEMENTATION ISSUES
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).
||Description of Implementation Issue
||Scope clarification regarding tariff sales to regulated customers
||Accounting for contracts with price and/or volume variability
||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
||Accounting for bundled arrangements
||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 email@example.com by the dates noted below:
The Power and Utility Entities Revenue Recognition Task Force recommends the following AICPA products for current revenue recognition issues: