Statements (40)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
accounting standard
|
| gptkbp:alignment |
gptkb:IFRS_15
|
| gptkbp:alsoKnownAs |
Topic 606
|
| gptkbp:appliesTo |
public companies
private companies not-for-profit organizations all entities reporting under US GAAP contracts with customers |
| gptkbp:basedOn |
five-step model
|
| gptkbp:compatibleWith |
financial instruments
guarantees non-monetary exchanges between entities in the same line of business insurance contracts lease contracts |
| gptkbp:focusesOn |
revenue recognition
|
| gptkbp:fullName |
gptkb:Accounting_Standards_Codification_Topic_606
|
| gptkbp:goal |
improve comparability of revenue recognition practices
|
| https://www.w3.org/2000/01/rdf-schema#label |
ASC 606
|
| gptkbp:issuedBy |
gptkb:Financial_Accounting_Standards_Board
|
| gptkbp:publicLawNumber |
606
|
| gptkbp:publishedIn |
gptkb:FASB_Accounting_Standards_Codification
|
| gptkbp:replacedBy |
gptkb:ASC_605
industry-specific revenue guidance |
| gptkbp:requires |
recognition of revenue as obligations are satisfied
allocation of transaction price identification of performance obligations |
| gptkbp:requiresDisclosureOf |
contract balances
nature of goods or services performance obligations significant judgments timing of revenue recognition |
| gptkbp:startDate |
December 2017
|
| gptkbp:step |
recognize revenue when or as performance obligations are satisfied
allocate the transaction price determine the transaction price identify the contract with a customer identify the performance obligations |
| gptkbp:bfsParent |
gptkb:FASB
gptkb:RevPro |
| gptkbp:bfsLayer |
6
|