Deloitte
Accounting Research Tool
...
On the Radar

Revenue Recognition

November 2021
Image cannot be displayed

On the Radar
Revenue Recognition

The core principle of the revenue standard is to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods and services. Significant judgments frequently need to be made when an entity evaluates the appropriate recognition of revenue from contracts with customers. These judgments are often required throughout the revenue standard’s five-step process that an entity applies to determine when, and how much, revenue should be recognized.
Image cannot be displayed