Deloitte
Accounting Research Tool
...
Accounting Spotlight Newsletter

Revenue Recognition — Contract Modifications

Accounting Spotlight
June 29, 2020
Image cannot be displayed

Revenue Recognition — Contract Modifications

This publication discusses the accounting for contract modifications under the new revenue standard (ASC 606), including the determination of whether a price concession should be accounted for as a contract modification. It provides illustrative examples of contract modifications and price concessions that may arise in the current economic environment.