Revenue Recognition Guide

Revenueisthetoplineintheincomestatementandoneofthemostimportantfigurestobothpreparersandusersoffinancialstatements.Itisalsooneofthemostdifficultnumbersinthefinancialstatementstogetright.RevenueRecognitionGuideisacomprehensivereferencemanualcoveringthekeyconceptsandissuesthatariseindeterminingwhenandhowtorecognizerevenue.Itcoversthelitanyofexistingauthoritativeliteraturerelatedtorevenuerecognitionandclarifiesthoserevenuerecognitionconceptsthatarevague.Forissuesnotaddressedintheaccountingliterature,thisGuideprovidessuggestedaccountingtreatmentsthatareconsistentwithgeneralrevenuerecognitionconceptsandprinciples.ThiseditionhasbeenupdatedtoreflecttheFASBAccountingStandardsCodification(TM)pronouncements/topicstohelpyouquicklocatetheinformationyouneedinthewaythatyoupreferaccessingit.TheGuidealsoprovidesexamplesofkeypoints,includesexcerptsfromthefinancialstatementsofpubliccompanies,illustratingkeyconceptsandjudgments,anddiscussesrevenuerecognitionprojectsontheagendasofthevariousaccountingstandard-setters.RevenueRecognitionGuideisorganizedinto13chapters.Withinthesechapters,anumberofObservationsandPracticePointershighlightkeyconsequencesoftheaccountingguidanceandidentifiesissuestowatchforwhendealingwithcertainrevenuetransactions.SECRegistrantAlertshighlightsissuesthattheSECisparticularlyfocusedon,aswellasadditionalguidanceprovidedbytheSECbeyondtheguidancetypicallyfollowedbynon-publiccompanies.Tofacilitateresearch,thetextincludesreferencestopertinentparagraphsoftheauthoritativeliteratureaddressingkeypoints.Materialcanbelocatedseveralways:theCross-Referencelistsshowthechapterinwhichaparticularpronouncementisdiscussed;theIndexprovidesaquickpagereferencebasedontopic.