ASC 605 Revenue Recognition

This Topic provides guidance for transaction-specific revenue recognition and certain matters related to revenue-generating activities, such as the sale of products, the rendering of services, and the gain or loss on involuntary conversions of nonmonetary assets to monetary assets, that are not addressed specifically in other Topics.

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US GAAP

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10 Overall 15 Products 20 Services 25 Multiple-Element Arrangements 28 Milestone Method 30 Rights to Use 35 Construction-Type and Production-Type Contracts 40 Gains and Losses 45 Principal Agent Considerations 50 Customer Payments and Incentives 905 Agriculture 908 Airlines 910 Contractors—Construction 912 Contractors—Federal Government 915 Development Stage Entities 920 Entertainment—Broadcasters 922 Entertainment—Cable Television 924 Entertainment—Casinos 926 Entertainment—Films 928 Entertainment—Music 932 Extractive Activities—Oil and Gas 940 Financial Services—Brokers and Dealers 942 Financial Services—Depository and Lending 944 Financial Services—Insurance 946 Financial Services—Investment Companies 948 Financial Services—Mortgage Banking 952 Franchisors 954 Health Care Entities 958 Not-For-Profit Entities 970 Real Estate—General 972 Real Estate—Common Interest Realty Associations 974 Real Estate—Real Estate Investment Trusts 976 Real Estate—Retail Land 978 Real Estate—Time-Sharing Activities 980 Regulated Operations 985 Software

Deloitte Guidance — Services Deloitte Guidance — Construction-Type and Production-Type Contracts Roadmap: Revenue Recognition Roadmap: Leases

ASC 605 provides industry-specific guidance for entities in the software industry, entities that enter into construction-type or production-type contracts, and entities in the entertainment and financial services industries, among others. Revenue is recognized when it is realized or realizable and earned. In addition, the Topic provides guidance for (1) arrangements under which a vendor will provide multiple deliverables to a customer, (2) reporting revenue gross or net of certain amounts paid to others, (3) accounting for consideration given by a vendor to a customer, and (4) the use of the milestone method in arrangements that include research or development deliverables.