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Revenue: News and publications

A comprehensive collection of news and publications related to ASC 605, ASC 606, ASC 610, and the joint revenue project, sorted in reverse chronological order.


In May 2014, the FASB and IASB issued a converged revenue standard. Click for direct access to:

Insurance — Accounting and Financial Reporting Update (December 2019)

Dec 05, 2019

The latest edition of our annual update highlights selected accounting and reporting developments that may be of interest to insurance entities. The most notable standard-setting development for insurers in 2019 was the FASB’s issuance in November of ASU 2019-09. The amendments in ASU 2019-09 give certain companies a one-year deferral of the effective date of ASU 2018-12, which makes targeted improvements to the accounting for long-duration contracts issued by insurance entities. The FASB also issued an ASU in November 2019 that delays certain effective dates of its major standards on credit losses, derivatives and hedging, and leases.

Real Estate — Accounting and Financial Reporting Update (December 2019)

Dec 04, 2019

The latest edition of our annual update highlights selected accounting and reporting developments that may be of interest to real estate entities. Developments in 2019 include the FASB’s issuance of ASUs related to its new leases standard, such as guidance that clarifies the impairment model for operating lease receivables. This publication also discusses changes to the requirements for the presentation of gains and losses related to the sale of properties by REITs as a result of the SEC’s issuance in 2018 of a final rule on disclosure updates and simplification. In addition, the FASB issued an ASU in November 2019 that delays the effective dates of its major standards on credit losses, derivatives and hedging, and leases.

Technology Alert — Challenges associated with applying the new revenue standard: Blend-and-extend modifications related to a cloud-based or hosted software arrangement

Dec 02, 2019

This Technology Alert discusses three alternatives for determining how to account for “blend-and-extend modifications” (i.e., modifications in which an entity and its customer agree to extend the contract term and “blend” the remaining original, higher contract rate with the lower rate of the extension period for the remainder of the combined term).

Technology Alert — Challenges associated with applying the new revenue standard: Identifying the performance obligations in a hybrid cloud-based arrangement

Dec 02, 2019

This Technology Alert discusses considerations for determining whether an entity’s on-premise software and cloud-based service in a hybrid cloud-based arrangement are separate performance obligations (i.e., whether each promise is both capable of being distinct and distinct within the context of the contract).

Technology Alert — Challenges associated with applying the new revenue standard: Accounting for cloud-based or hosted software arrangements with variable consideration

Dec 02, 2019

This Technology Alert provides interpretive guidance intended to help entities address certain challenges associated with applying the revenue model in ASC 606 to software-as-a-service arrangements that include variable consideration.

Banking & Capital Markets — Accounting and Financial Reporting Update (November 2019)

Nov 21, 2019

The latest edition of our annual update highlights selected accounting and reporting developments that may be of interest to banking and securities entities. Developments in 2019 include (1) the FASB’s continued focus on addressing implementation issues related to its new standards on credit losses, hedging, and lease accounting and (2) the deferral of the effective dates of these accounting standards for certain entities.

Heads Up — FASB clarifies the accounting for share-based payments issued as sales incentives to customers

Nov 13, 2019

This Heads Up discusses FASB Accounting Standards Update (ASU) No. 2019-08, "Codification Improvements — Share-Based Consideration Payable to a Customer," which clarifies the accounting for share-based payments issued as consideration payable to a customer in accordance with ASC 606. Under the ASU, entities apply the guidance in ASC 718 to measure and classify share-based payments issued to a customer that are not in exchange for a distinct good or service (i.e., share-based sales incentives).

FASB issues guidance on share-based payments made to customers

Nov 11, 2019

The FASB has issued Accounting Standards Update (ASU) No. 2019-08, “Codification Improvements — Share-Based Consideration Payable to a Customer.”

Investment Management — Accounting and Financial Reporting Update (November 2019)

Nov 06, 2019

The latest edition of our annual update highlights selected accounting and reporting developments that may be of interest to investment management entities. Developments in 2019 include the standard setters’ continued work on issues related to the implementation of the new leasing standard as well as the AICPA’s issuance of a comprehensive new accounting and valuation guide. The publication also lists selected ASUs that were issued in calendar year 2019 and summarizes the current status of, and next steps for, selected active FASB projects.

Technology Alert — Challenges associated with applying the new revenue standard: Accounting for implementation services related to a cloud-based or hosted software arrangement

Nov 01, 2019

This Technology Alert discusses factors to consider in the determination of whether implementation services that are included in a software-as-a-service (SaaS) arrangement represent activities that do not transfer a good or service to the customer, a promise that is not distinct from the SaaS, or a distinct performance obligation.

Technology Alert — Challenges associated with applying the new revenue standard: Nonrefundable up-front fees in software arrangements

Oct 23, 2019

This Technology Alert addresses questions that have arisen in practice regarding how to account for nonrefundable up-front fees associated with a software arrangement that contains a termination provision.

Technology Alert — Challenges associated with applying the new revenue standard: Highly variable or uncertain pricing

Oct 07, 2019

This Technology Alert addresses a number of challenges associated with the residual approach, including (1) determining when its use is appropriate, (2) deciding whether an entity must reassess the appropriateness of its use in each reporting period, and (3) identifying material rights in contracts that include highly variable or uncertain pricing for optional future goods or services.

Accounting Spotlight — Revenue recognition — Identifying performance obligations

Sep 17, 2019

This Accounting Spotlight discusses the identification of performance obligations under the new revenue standard (the guidance in ASU 2014-09, “Revenue From Contracts With Customers (Topic 606),” as amended). The publication explains that an entity applying the new revenue standard is required to identify a performance obligation by determining whether a promised good or service is (1) capable of being distinct and (2) distinct within the context of the contract. If the promised good or service does not meet both of these requirements, it must be combined with other goods or services promised in the contract until there is a combination of goods or services that meets the requirements.

A Roadmap to Applying the New Revenue Recognition Standard (2019)

Jul 26, 2019

This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance under the new revenue standard as codified in ASC 606, ASC 340-40, and ASC 610-20. The 2019 edition contains new interpretations and guidance that reflect developments in practice and activities of the FASB, SEC, and AICPA since publication of the 2018 edition.

Highlights of the FASB’s July 17 meeting

Jul 19, 2019

At its July 17, 2019, meeting, the FASB discussed (1) reference rate reform; (2) effective date considerations for private companies, not-for-profit organizations, and small public companies; (3) the lessor’s accounting for operating lease receivables under ASC 842, “Leases”; and (4) implementation of the contract combination guidance in ASC 606, “Revenue From Contracts With Customers,” by colleges and universities.

Technology Alert — Challenges associated with applying the new revenue standard: EITF project on revenue recognition for contract modifications of licenses of intellectual property

Jul 08, 2019

This Technology Alert discusses issues associated with the EITF’s project on revenue recognition for contract modifications of licenses of intellectual property, including the extension of a contract’s term and the revocation or conversion of licensing rights.

Accounting Spotlight — Revenue recognition — Determining whether a performance obligation is satisfied at a point in time or over time

Jun 24, 2019

This Accounting Spotlight discusses the fact that under the FASB’s new revenue standard (the guidance in ASU 2014-09, “Revenue From Contracts With Customers (Topic 606)," as amended), entities may need to recognize revenue over time instead of at a point in time. They should evaluate the criteria in ASC 606-10-25-27 to determine the appropriate timing for revenue recognition.

Technology Alert — Challenges associated with applying the new revenue standard: residual approach to estimating stand-alone selling prices and allocating the transaction price when a value relationship exists

Jun 12, 2019

This Technology Alert discusses considerations related to the determination of whether and, if so, how an entity that sells a software license, postcontract customer support, and professional services to a customer may use a residual approach under the FASB’s new revenue recognition standard to estimate stand-alone selling prices and allocate the transaction price to the performance obligations when a value relationship exists. The alert is the fourth in a series intended to help technology entities better understand the new guidance, particularly private organizations that are currently adopting the standard’s requirements.

Accounting Spotlight — Revenue recognition — Evaluating whether an entity is acting as a principal or as an agent

May 28, 2019

This Accounting Spotlight discusses the key principal-versus-agent considerations under the FASB’s new revenue standard (the guidance in ASU 2014-09, "Revenue From Contracts With Customers (Topic 606)," as amended) that an entity must evaluate to determine whether it is a principal or an agent in a transaction. The changes result from the standard’s shift from a risks-and-rewards model to a control model.

Deloitte comments on FASB's proposed improvements to the accounting for share-based payments to customers

Apr 18, 2019

Deloitte & Touche LLP has commented on the FASB's proposed ASU "Codification Improvements — Share-Based Consideration Payable to a Customer."

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