ASPE briefing: Section 3400, Revenue

Published on: Jun 01, 2021

The amendments provide additional guidance on the application of the requirements in Section 3400 to clarify how to identify the unit of account in a revenue transaction, as well as additional guidance on the following revenue topics:

  • percentage of completion method
  • multiple-element arrangements
  • reporting revenue gross or net
  • bill and hold arrangements
  • up-front non-refundable fees or payments

Our briefing highlights key changes resulting from the amendments and considers some possible assurance implications. It also provides illustrative examples on its application.


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