Revenue Accounting Resources

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Here is a hand picked selection of revenue recognition resources we've found the most useful while decoding how the new standard works. Enjoy nerding out!

KPMG

• ASC 606 Handbook (General) (Mar 2024, 1,025 pages)
• Software and SaaS ASC 606 Guide (May 2024, 764 pages)
• 2021 AICPA Conference on current SEC and PCOAB Issues (Dec 2021, 26 Pages)
• 2020 AICPA Conference on current SEC & PCAOB Issues (Dec 2020, 21 Pages)  
• Russia-Ukraine war (March 2022, 11 pages)
• SEC comments ASC 606 early adopters (March 2018, 3 pages)
• Revenue Standard: Potential Tax Changes (May, 2017, 7 pages) 
• Revenue Transition Options (June 2016, 46 pages)
• Illustrative Disclosures ASC 606 (May 2016, 90 pages)
• Business Combinations Recognition of Assumed Liabilities under 606 (June 2018, 6 pages) 
• Cloud Computing Costs: IFRS compared to US GAAP  (June 2019)  
• KPMG Credit Impairment under ASC 342 (Mar 2020, 488 pages)

Ernst & Young

• FRD ASC 606 - Comprehensive Guide (Sept 2023, 465 pages) 
• Revenue Contracts Acquired in a Business Combination (Jan 2022, 18 Pages)
• How the revenue standard affects telecommunication entities (Jul 15, 2022, 18 pages)
•  2021 AICPA & CIMA Conference on SEC and PCAOB Developments (Dec 2021,19 pages)
• IFRS 15 Revenue from Contracts with Customers (Oct 2017, 333 pages)
• Income tax impact considerations (July 2017, 7 pages)
• Common challenges of implementing the new standard (Aug 2017, 15 pages)
• FASB clarifies the guidance on collaborative arrangements (Nov 2018, 4 pages)
• EITF Addressing Modifications of IP Licenses (May 2019, 4 pages) 

How the revenue standard affects:

• Technology companies (Software, SaaS) (July 2020, 70 pages)
• Telecommunication entities (Jul 15, 2022, 18 pages)
• Retail and consumer products (April 2024, 31 pages)
• Media and entertainment (August 2019, 31 pages)
• Health Care entities (Dec 2023, 14 pages)

• Accounting and reporting for the effect of the coronavirus outbreak (March 2020, 13 pages)
• Revenue Considerations for the effects of COVID-19 (July 2020, 10 pages)
• Credit impairment for short term receivables under ASC 326 ( Sept 2022, 73 pages)
• Credit impairment under ASC 326 (Jan 2020, 291 pages)

PwC

• Revenue with Contracts with Customers (Oct 2022, 258 pages)
• Rev Rec Q&A Guide for Software and SaaS (2021, 24 Pages)
• Accounting for Acquired contract assets and liabilities (Oct 2021, 4 pages) 
• Financial statement presentation ( Aug 2020, 857 pages) 
• SEC Comment Letter Observations on the new revenue standard (Nov 2018, 14 pages)
• Implementation technology sector (April 2017, 26 pages)
• How the new revenue standard affects Tech Sector M&A deals (Jan 2017, 5 pages)
• FAQs about SEC Reporting and Transition  (Aug 2017, 9 pages)  
• SEC 2016 comment letter and disclosure trends, Technology (Nov 2016, 39 pages)
• Loans and Investment Guide "CECL" (Mar 2020, 282 pages)

Deloitte

• New Revenue Standard Roadmap (Dec 2023, 832 pages)
• Technology Industry Accounting Guide (March 2023, 391 pages)
• Healthtech Industry Accounting Guide (April 2024, 105 pages)
• On the Radar Revenue Recognition (December 2023, 7 pages)

Tech Spotlight/Alerts: Challenges Associated With Applying the New Revenue Standard 

• Applying the Revenue Standard to Cloud Conversion or Switching Rights (June 2021, 16 pages)
• Applying the Revenue Standard to Identify the Performance Obligations in Arrangements That Include Smart Devices, Updates, and Cloud-Based Services (April 2021) 
• Accounting for Cloud-Based or Hosted Software Arrangements With Variable Consideration (Dec 2019, 12 pages)
• Accounting for Implementation Services Related to a Cloud-Based or Hosted Software Arrangement (Nov, 2019, 5 pages) 
• Blend-and-Extend Modifications Related to a Cloud-Based or Hosted Software Arrangement (Dec 2019, 4 pages) 
• Identifying the Performance Obligations in a Hybrid Cloud-Based Arrangement (Dec 2019, 7 pages)
• Revenue Recognition - Contract Modifications (June 2020, 9 pages)
• Technology Alert - Estimating Stand Alone Selling Price for term licenses and PCS (Feb 2019, 9 pages)

Other 

• Financial Reporting Considerations Arising from the Russia-Ukraine War (Mar 10, 2022, website) 
• 2020 AICPA Conference on Current SEC and PCAOB Developments (link)
• Observations from a Review of Public Filings by early adopters (Jan 2018, 13 pages)
• Internal Control Considerations (May 9, 2017, 12 pages)
• Roadmap: Current Expected Credit Losses (May 2024, 217 pages)

Revenue Hub.org 

Collaboration Project between BYU & Connor Group. ASC 606 Interpretations from Big 4 Firms are written in 'plain english" with examples from SEC filings 

Transition Resource Group "TRG" Meeting Materials (link to webpage)

FASB Standard and Basis 

• Revenue Implementation Q&A ( 2020, 191 pages)
• Revenue from Contracts with Customers and Other Assets and Deferred Costs—Contracts with Customers (Subtopic 340-40) (ASU 2014-09, Section A, 156 pages)
• Basis of Conclusions (ASU 2014-09, Section C, 193 pages)

• ASC 326 Financial Instruments and Credit Losses ( ASU 2019-11, 34 pages) 

ASC 606 - Subsequent Updates 

• ASU 2017-13 Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842): 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  (SEC Update)
• ASU 2016-20  Technical corrections and improvements to ASC 606
• ASU 2016-12  Narrow-scope improvements and practical expedients
• ASU 2016-10  Identifying performance obligations and licensing
• ASU 2016-08  Principal versus agent considerations (reporting revenue gross versus net)

• ASU 2016-13 Financial Instruments - Credit Losses i.e. valuation of AR (June 2016, 291 pages)  
• ASU 2018-18 Clarifying the Interaction between Collaborative Arrangements (Topic 808) and ASC 606 (Nov 2018, 37 pages)
• ASU 2018-15   Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement (34 pages, Aug 2018)
• EITF 18-A  Recognition under Topic 805 for an Assumed Liability in a Revenue Contract i.e. business acquisitions (In progress)

PCAOB

• Practice Alert 15:  Auditing Revenue from Contracts with Customers (Oct,  2017, 20 pages) 

AICPA Dec 2020 Conference 

• KPMG 2020 AICPA Conference on current SEC & PCAOB Issues (Dec 2020, 21 Pages) 
• Deloitte:  2020 AICPA Conference on Current SEC and PCAOB Developments ( website link) 

• Netsuite:  Rev Rec Series 3: Wall Street's Take on ASC 606 (April 2017, 48:30)       
• KPMG: Investor Perspectives on ASC 606 for Software and SaaS (May 2017, 3 pages) 
• KPMG: Data driven approach to decision making - SaaS Metrics (Sept 2020, 75 Pages) 

ASC 605: Legacy Revenue Standard 

• EY: FRD - ASC 605 Software Revenue Recognition (Sept 2020, 421 pages)
• EY: FRD - ASC 605 Rev Rec Multiple element arrangements (Sept 2019, 114 pages)

Cloud Computing Costs

• EY: Accounting for implementation costs in cloud computing arrangements (Sept 2018, 6 pages)
• KPMG: Customer's accounting for cloud arrangements ASC 350-40 (May 2020, 15 pages)
• Deloitte:  Scoping Considerations When Accounting for Software and Software-Related Costs (June 2020, 16 pages) 
• Deloitte: Accounting for Costs Incurred in the Application of Agile Software Development (May 2020, 7 pages) 
• PwC: Property Plant and Equipment and other Assets - (Capitalized Software Oct 2020, 287 pages)

Leases

• KPMG: Leases Handbook (Mar 2020, 1,168 pages)
• EY: Leases FRD (Aug 2020, 361 pages)