ASPE briefing: Section 3400, Revenue
Published on:
Jun 01, 2021
![ASPE briefing: Section 3400, Revenue Image]()
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.
