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Revenue accounting reset – Recognizing revenue
We kick off our latest accounting podcast miniseries on revenue accounting with a foundational discussion on revenue recognition. In this episode, we tackle recognizing revenue —the final step of the ASC 606 model—and examine how to determine whether performance obligations are satisfied over time or at a point in time.
In this episode, we discuss:
0:54 – Overview of the ASC 606 revenue model
5:30 – Identifying performance obligations satisfied over time
11:15 – Identifying performance obligations satisfied at a point in time
21:19 – Measures of progress to determine the timing of revenue…
The skinny
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