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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:

FASB releases investor podcast on revenue recognition for health care services entities

Oct 12, 2017

The FASB has released an investor podcast on the impact of revenue recognition on entities in the health care services industry.

PCAOB issues audit practice alert related to new revenue standard

Oct 06, 2017

The PCAOB has issued Staff Audit Practice Alert No. 15, “Matters Related to Auditing Revenue From Contracts With Customers.”

AICPA issues 20 revenue working drafts

Oct 03, 2017

The AICPA’s revenue recognition task forces have released for public comment 20 working drafts on accounting issues associated with the implementation of the new revenue standard for airlines, asset management, construction, gaming, health care, oil and gas, power and utilities, and telecommunications entities.

FASB releases investor podcast on revenue recognition for airlines entities

Oct 02, 2017

The FASB has released an investor podcast on the impact of revenue recognition on entities in the airlines industry.

FASB issues ASU amending certain SEC guidance

Oct 02, 2017

The FASB has issued Accounting Standards Update (ASU) No. 2017-13, “Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Rescission of Prior SEC Staff Announcements and Observer Comments.”

A roadmap to applying the new revenue recognition standard

Sep 28, 2017

This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance under the new revenue standard as codified in ASC 606, ASC 610-20, and ASC 340-40. The 2017 edition contains new interpretations and guidance as a result of FASB, TRG, SEC, and AICPA activity as well as developments in practice since publication of the 2016 edition of this Roadmap.

Quarterly Accounting Roundup: Third quarter in review — 2017

Sep 26, 2017

This edition of Quarterly Accounting Roundup summarizes the key financial reporting developments in the third quarter of 2017.

Automotive Spotlight — SEC gives automotive suppliers driving directions to account for preproduction activities under the new revenue standard

Sep 18, 2017

This Automotive Spotlight discusses how automotive suppliers should account for preproduction costs and reimbursements received from original equipment manufacturers in a long-term supply arrangement after adoption of the new revenue standard.

AICPA issues seven revenue working drafts

Sep 06, 2017

The AICPA’s revenue recognition task forces have released for public comment seven working drafts on accounting issues associated with the implementation of the new revenue standard for aerospace and defense, asset management, broker-dealer, engineering and construction, power and utility, software, and time-share entities.

Heads Up — The new revenue standard — Are you still assessing the impact?

Sep 05, 2017

This Heads Up provides Deloitte’s observations about public companies’ progress toward adopting the FASB’s new revenue standard (ASC 606).

CFO Insights — Revenue recognition — Pain points beyond the accounting

Aug 24, 2017

This issue looks at the multiple tentacles of the new revenue standard, and outlines some of the things CFOs need to prepare for — and how they can reduce surprises.

Journal entry — SEC issues updates to interpretive guidance on revenue recognition

Aug 22, 2017

On August 18, 2017, the SEC released Staff Accounting Bulletin (SAB) 116 that conforms existing SEC staff guidance with the guidance in ASC 606. SAB 116 modifies (1) SAB Topic 13, “Revenue Recognition”; (2) SAB Topic 8, “Retail Companies”; and (3) SAB Topic 11.A, “Miscellaneous Disclosure: Operating-Differential Subsidies.”

SEC updates interpretive guidance on revenue recognition

Aug 21, 2017

The SEC has issued the following two releases to update its interpretive guidance on revenue recognition: “Commission Guidance Regarding Revenue Recognition for Bill-and-Hold Arrangements” and “Updates to Commission Guidance Regarding Accounting for Sales of Vaccines and Bioterror Countermeasures to the Federal Government for Placement into the Pediatric Vaccine Stockpile or the Strategic National Stockpile.” In addition, the SEC’s Office of the Chief Accountant and its Division of Corporation Finance have issued Staff Accounting Bulletin (SAB) No. 116.

AICPA issues three revenue working drafts

Aug 02, 2017

The AICPA’s revenue recognition task forces have released for public comment three working drafts on accounting issues associated with the implementation of the new revenue standard for depository and lending institutions, engineering and construction contractors, and power and utility entities.

AICPA issues four revenue working drafts

Jul 06, 2017

The AICPA’s revenue recognition task forces have released for public comment four working drafts on accounting issues associated with the implementation of the new revenue standard for airlines, gaming, health care, and telecommunications industries.

Highlights from the FASB’s June 21 meeting

Jun 23, 2017

At its June 21, 2017, meeting, the FASB discussed its projects on (1) leases, (2) revenue recognition, (3) recognition and measurement of financial instruments, (4) consolidation, and (5) disclosure review — inventory.

Journal entry — FASB makes tentative decisions on technical corrections and improvements to new leases standard and discusses revenue/leases transition issue

Jun 22, 2017

At its June 21, 2017, Board meeting, the FASB discussed 16 proposed technical corrections and improvements to its new leases standard (ASU 2016-02), as well as a lessor-specific transition issue related to the interaction between the adoption of the new leases standard and the new revenue standard (ASU 2014-09).

AICPA issues 12 revenue working drafts

Jun 06, 2017

The AICPA’s revenue recognition task forces have released for public comment 12 working drafts on accounting issues associated with the implementation of the new revenue standard for asset management, engineering and construction, gaming, health care, hospitality, and software entities.

Heads Up — Implementing the new revenue standard — How do your disclosures stack up?

Jun 05, 2017

This Heads Up discusses observations from our review of the SAB 74 disclosures about adopting the FASB’s new revenue standard that were included in periodic SEC filings of the Fortune 1000 companies.

FASB issues guidance on service concession arrangements

May 16, 2017

The FASB has issued Accounting Standards Update (ASU) No. 2017-10, “Determining the Customer of the Operation Services — a consensus of the FASB Emerging Issues Task Force.”

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