ASC 606 Revenue from Contracts with Customers
GPTKB entity
Statements (34)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
accounting standard
|
| gptkbp:alsoKnownAs |
Topic 606
|
| gptkbp:appliesTo |
public companies
private companies not-for-profit organizations entities reporting under US GAAP |
| gptkbp:codifiedIn |
gptkb:FASB_Accounting_Standards_Codification
|
| https://www.w3.org/2000/01/rdf-schema#label |
ASC 606 Revenue from Contracts with Customers
|
| gptkbp:influencedBy |
gptkb:IFRS_15_Revenue_from_Contracts_with_Customers
|
| gptkbp:issuedBy |
gptkb:Financial_Accounting_Standards_Board
|
| gptkbp:objective |
eliminate industry-specific guidance
improve comparability of revenue recognition |
| gptkbp:principle |
recognize revenue to depict transfer of goods or services
|
| gptkbp:relatedTo |
financial reporting
revenue recognition contract accounting |
| gptkbp:replacedBy |
gptkb:ASC_605
industry-specific revenue guidance in US GAAP |
| gptkbp:requiresDisclosureOf |
contract balances
performance obligations transaction price allocated to remaining performance obligations nature, amount, timing, and uncertainty of revenue significant judgments and changes in judgments |
| gptkbp:scope |
all contracts with customers except leases, insurance, financial instruments, guarantees, and nonmonetary exchanges
|
| gptkbp:startDate |
2018-01-01
|
| gptkbp:step |
allocate the transaction price
determine the transaction price identify the contract with a customer identify the performance obligations recognize revenue when performance obligation is satisfied |
| gptkbp:transitionMethod |
full retrospective
modified retrospective |
| gptkbp:bfsParent |
gptkb:IFRS_15_Revenue_from_Contracts_with_Customers
|
| gptkbp:bfsLayer |
6
|