Revenue Recognition Video Series

Under the new revenue recognition accounting standards (ASU 2014-09), all companies will recognize revenue from customer contracts using a five-step model.

This series of videos will help define and explain each of the five steps in detail.

Revenue Recognition Overview:
The 5-Step Model


Step 1: Identify the contract with the customer


Step 2: Identify the performance obligations in the contract


Step 3:
Determine the Transaction Price


Step 4:
Allocate the Transaction Price to the Performance Obligations in the Contract


Step 5:
Recognize Revenue When or As the Entity Satisfies the Performance Obligation



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