FASB Staff Issues Q&As on Revenue Recognition
January 31, 2020
The FASB staff has issued a Q&A document, Revenue Recognition Implementation
Q&As.
The Q&As are compiled from previously issued educational materials and address the
following topics:
- Scope.
- Step 1 — Identifying the contract.
- Step 2 — Identifying the performance obligation.
- Step 3 — Determining the transaction price.
- Step 4 — Allocating the price to the performance obligation.
- Step 5 — Recognizing revenue.
- Licensing.
- Presentation.
- Contract costs.