Deloitte
Accounting Research Tool
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Chapter 8 — Step 5: Determine When to Recognize Revenue

8.1 Objective and Background

8.1 Objective and Background

ASC 606-10
25-23 An entity shall recognize revenue when (or as) the entity satisfies a performance obligation by transferring a promised good or service (that is, an asset) to a customer. An asset is transferred when (or as) the customer obtains control of that asset.