Deloitte
Accounting Research Tool
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Chapter 14 — Presentation

14.1 Overview

14.1 Overview

ASC 606-10
45-1 When either party to a contract has performed, an entity shall present the contract in the statement of financial position as a contract asset or a contract liability, depending on the relationship between the entity’s performance and the customer’s payment. An entity shall present any unconditional rights to consideration separately as a receivable.