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
Determine the Transaction Price
Allocate the Transaction Price to the Performance Obligations in the Contract
Recognize Revenue When or As the Entity Satisfies the Performance Obligation
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