Latest / PwC's accounting podcast
Identifying the contract – The first step in recognizing revenue
Our revenue miniseries continues with identifying the contract, the first step in the five-step model in the revenue standard. It's important to get this step right to appropriately apply the model for recognizing revenue.
In this episode, we discuss:
4:10 – The five criteria to have a contract with a customer under the revenue standard
8:23 – The impact of master services agreements and enforceable rights
16:03 – Assessing collectibility of the consideration in the contract
27:08 – Determining the contract term
For more information, read chapter 2 of our Revenue guide. Also, to hear more on…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.