Sections 4.11.1 through 4.11.3 address the accounting for assets and liabilities associated with revenue contracts before an entity adopts ASU 2021-08. ASU 2021-08 was issued in October 2021 to reduce diversity and inconsistency in the measurement and recognition of contract assets and contract liabilities acquired in a business combination.
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This publication provides comprehensive guidance; however, it does not address all possible fact patterns, and the guidance is subject to change. Consult a Deloitte & Touche LLP professional regarding your specific issues and questions.