The new ASC 606 revenue recognition standard was adopted by most companies within the last three years with public companies adopting first and then followed later by private companies. A core concept in the new revenue recognition approach is the Five-Step model for identifying contracts, performance obligations, transaction prices, allocations, and timing for revenue recognition.
Within the Five-Step model, Step 4 of ASC 606 requires an allocation of the total consideration in a contract, which an entity is legally entitled to collect for each distinct performance obligation. To learn more download our eBook now
Further this eBook covers;
- What is Standalone Selling Price?
- SSP Decision Flow Process
- Analyses and Real-World Recommendation
- and much more..
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