- ASC 606 (ASU 2014-09, Revenue from Contracts with Customers) Listen to Baker Tilly as we delve into the first element of revenue recognition: identifying the contract.
- The first step in applying ASC 842 is determining whether or not a contract, which is defined as an agreement between two parties which creates enforceable rights and obligations, contains a lease. Basically the contract contains a lease if it conveys the right to control the use of identified property or equipment for a period of time.
- The first step in applying Accounting Standards Codification (ASC) 606 is to identify the contract(s) with the customer.
- Baker Tilly recently presented an introduction to the upcoming revenue recognition transition.
- Baker Tilly responds to GASB Exposure Draft, Fiduciary Activities
- Previous Next