Finance & Investing · Accounting & Financial Statements
A topic within Accounting & Financial Statements, itself one of 11 topics in that field and part of Finance & Investing.
2 works
U.S. Securities and Exchange Commission
Sets out the SEC staff's view of when revenue may be recognised under existing rules, issued after a wave of aggressive revenue recognition at companies whose auditors had let form override substance.
Financial Accounting Standards Board
Replaces a patchwork of industry-specific revenue rules with one five-step model — identify the contract, the performance obligations, the price, allocate it, and recognise revenue as each obligation is satisfied — applied identically whether the business sells software, ships or leases.