Deloitte
Accounting Research Tool
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Chapter 5 — Step 2: Identify the Performance Obligations

5.4 Defining the Nature of the Promise

5.4 Defining the Nature of the Promise

Footnotes

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ASC 606-10-55-184 through 55-186.
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The nature of the entity’s promise when it commits to provide unspecified updates and upgrades to a customer differs from the entity’s obligation when it commits to deliver specified upgrades. This discussion addresses only unspecified updates and upgrades. For specified upgrades, the analysis will most likely be different since specified upgrades will often be a separate performance obligation.