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Chapter 14 — Presentation

14.7 Other Presentation Matters

14.7 Other Presentation Matters

Footnotes

1
Company P would pay cash to settle the refund liability only if the customer did not have an outstanding accounts receivable balance.
2
ASC 340-40-25-4 provides a practical expedient under which “an entity may recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the entity otherwise would have recognized is one year or less.”