Common private company ASC 606 implementation questions
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Common private company ASC 606 implementation questions

Feb 19, 2020 · 279.1 KB Download

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The new year brings with it adoption of FASB ASC 606 for most calendar year private companies. In this report, we will discuss certain implementation questions we have been receiving to assist our members with common questions regarding FASB ASC 606.

  • Opting Out of U.S. GAAP?

  • What if a Contract’s Enforceable Terms on a Right to Payment for Performance to Date if Terminated for Convenience Are Not Clear (or Disputed)?

  • Does an Entity Have to Take Physical Title to be Considered a Principal (Example: Drop Ship Arrangements)?

  • Does a History of Giving Customers Price Concessions on Future Purchases or Free Goods and Services Result in an Implied Promise?

  • How Are Contract Mobilization Costs Treated Once Performance on the Contract has Started?

Download the Common private company ASC 606 implementation questions report

File name: CPEA-606-implementation-questions.pdf

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