This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

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:

Heads Up — FASB amends guidance on collaborative arrangements

Nov 13, 2018

This Heads Up discusses the FASB’s recently issued Accounting Standards Update (ASU) No. 2018-18, "Clarifying the Interaction Between Topic 808 and Topic 606," which amends ASC 808 to clarify when transactions between participants in a collaborative arrangement under ASC 808 are within the scope of the FASB’s new revenue standard.

FASB issues guidance on collaborative arrangements

Nov 05, 2018

The FASB has issued Accounting Standards Update (ASU) No. 2018-18, “Clarifying the Interaction Between Topic 808 and Topic 606.”

FASB issues staff paper related to implementation of the revenue recognition standard by private-company franchisors

Nov 05, 2018

The FASB has issued an educational staff paper containing examples designed to assist private-company franchisors with implementing the new revenue standard (ASC 606). One of the main topics addressed in the staff paper is the judgment a franchisor uses in identifying performance obligations.

Heads Up — SEC comments reflect registrants’ efforts to implement ASC 606

Sep 26, 2018

This issue provides a brief overview of the disclosure requirements for public business entities under the FASB’s new revenue standard, ASC 606, "Revenue From Contracts With Customers." The newsletter highlights some key themes regarding the application of ASC 606 (related to accounting and disclosure requirements) that we noted in our review of approximately 100 SEC staff comments issued to date and presents examples of those comments.

CAQ releases highlights of July 2018 meeting with SEC staff

Sep 19, 2018

The Center for Audit Quality (CAQ) has released the highlights of the July 12, 2018, CAQ SEC Regulations Committee joint meeting with the SEC staff.

Journal entry — CAQ SEC Regulations Committee releases highlights of July 12, 2018, joint meeting with the SEC staff

Sep 18, 2018

On September 17, 2018, the Center for Audit Quality (CAQ) posted to its Web site the highlights of the July 12, 2018, CAQ SEC Regulations Committee joint meeting with the SEC staff.

Financial Reporting Alert 18-10 — Adoption of ASU 2018-07 in an interim period

Aug 01, 2018

This Financial Reporting Alert addresses the questions that have arisen about how entities that have early adopted ASU 2018-07, "Improvements to Nonemployee Share-Based Payment Accounting," in an interim period can determine the adoption date for the calculation of the transition adjustments. We believe that there is more than one acceptable approach to making such a determination. This alert focuses on two illustrative approaches and includes sample journal entries for each one.

Technology Alert — Challenges associated with applying the new revenue standard: Termination rights

Jul 24, 2018

This Technology Alert discusses various aspects of termination rights under the FASB’s new revenue recognition standard. The alert is the first in a series intended to help technology entities better understand the new guidance, particularly private organizations that are currently adopting the standard’s requirements.

Power & Utilities Spotlight — Effects of the new revenue standard: Observations from a review of first-quarter 2018 public filings by power and utilities companies

Jul 13, 2018

This Power & Utilities Spotlight discusses our review of the disclosures in the public filings of a group of companies that adopted the FASB’s new revenue standard (ASC 606) in the first quarter of 2018. While we observed diversity in practice, it’s clear that the standard’s new and modified disclosure guidance has significantly increased the amount and type of information disclosed about revenue activities and related transactions.

Heads Up — ASC 606 is here — How do your revenue disclosures stack up?

Jul 11, 2018

This Heads Up provides insight into Deloitte’s review of the disclosures in the public filings of a sample of companies that adopted the FASB’s new revenue standard (ASC 606) as of the first quarter of 2018. Entities may benefit from evaluating the disclosure trends we have observed as a result of this review.

AICPA issues two revenue working drafts

May 02, 2018

The AICPA’s revenue recognition task forces have released for public comment two working drafts on accounting issues associated with the implementation of the new revenue standard for gaming and telecommunication entities.

FASB staff proposes taxonomy implementation guide on revenue and taxonomy improvements related to its proposal on collaborative arrangements

May 01, 2018

The FASB staff has issued a proposed financial reporting taxonomy implementation guide, “Revenue From Contracts With Customers (Including Remodeling of Revenue and Cost of Revenue Presentation in the Statement of Income),” and proposed taxonomy improvements related to the proposed Accounting Standards Update (ASU), “Collaborative Arrangements (Topic 808): Targeted Improvements.”

Heads Up — FASB proposes guidance on collaborative arrangements

Apr 30, 2018

This Heads Up discusses the FASB’s proposed Accounting Standards Update, "Collaborative Arrangements (Topic 808): Targeted Improvements," which would amend ASC 808 to address uncertainties related to the interaction of that guidance with the FASB’s new revenue standard (ASC 606).

Real Estate Spotlight — “Failed sales” of nonfinancial assets require reassessment upon adoption of ASC 606 and ASC 610-20

Apr 17, 2018

This Real Estate Spotlight discusses an entity’s requirements upon adopting ASC 610-20, which provides guidance on the recognition and measurement of transfers of nonfinancial assets. As a result of the new guidance, an entity may need to reverse its accounting for previous transactions and adjust beginning retained earnings.

Power & Utilities Spotlight — “Failed sales” of nonfinancial assets require reassessment upon adoption of ASC 606 and ASC 610-20

Apr 13, 2018

This Power & Utilities Spotlight discusses an entity’s requirements upon adopting ASC 610-20, which provides guidance on the recognition and measurement of transfers of nonfinancial assets. As a result of the new guidance, an entity may need to reverse its accounting for previous transactions and adjust beginning retained earnings.

Heads Up — What private companies should know about the new revenue recognition standard

Apr 11, 2018

This Heads Up provides a high-level overview of the new five-step model for recognizing revenue under ASC 606 and discusses the standard's mandatory effective date for private companies. It also outlines the practical expedients available to private companies with respect to certain of the new standard's disclosure requirements and discusses internal control considerations. In addition, the Heads Up provides some observations and lessons learned from the implementation of ASC 606 by public companies.

Highlights of the March 2018 FASAC meeting

Mar 27, 2018

At its March 20, 2018, meeting, the FASB’s Financial Accounting Standards Advisory Council (FASAC) discussed (1) tax reform and income tax accounting and (2) implementation of the new revenue recognition standard.

Highlights of the March 2018 Not-for-Profit Advisory Committee meeting

Mar 23, 2018

At its March 12–13, 2018, meeting, the FASB’s Not-for-Profit Advisory Committee (NAC) discussed (1) revenue recognition of grants and contracts by not-for-profits (NFPs), (2) the Tax Cuts and Jobs Act, and (3) implementation issues related to certain FASB ASUs.

Revenue From Contracts With Customers — A guide to IFRS 15

Mar 21, 2018

Deloitte Touche Tohmatsu Limited has published “Revenue From Contracts With Customers — A Guide to IFRS 15.” This 254-page publication is intended to help preparers and users of financial statements understand the impact of adopting IFRS 15, “Revenue From Contracts With Customers,” which is now effective.

AICPA issues seven revenue working drafts

Feb 02, 2018

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, gaming, health care, insurance, and telecommunication entities.

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.