Revenue Recognition (December 2020)
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This Roadmap provides Deloitte’s
insights into and interpretations of the guidance in ASC 606 on revenue from
contracts with customers, the cost guidance in ASC 340-40, and the guidance in ASC
610-20 on gains and losses on transfers of nonfinancial and in-substance
nonfinancial assets to noncustomers. The 2020 edition includes new guidance and
examples that reflect recent standard-setting and SEC developments. In addition, we
have reorganized much of the Roadmap’s content (e.g., by reformatting the Q&As
of last year’s edition as narrative text) to present it in a more user-friendly
manner. Appendix G of the Roadmap summarizes the key changes made in the 2020
edition and maps prior Roadmap Q&As to current Roadmap sections.
This Roadmap replaces the Deloitte Q&As that were contained in
ASC 606. To find the text in the Roadmap that corresponds to a former Q&A,
select the “Revenue” tab at the bottom of the Q&A to Roadmap Quick Reference Guide
and search for the Q&A’s number or title.
Be sure to check out other titles in Deloitte’s Roadmap
series, our comprehensive, easy-to-understand collection of
accounting guides on selected topics of broad interest to the financial reporting
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