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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.


Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.