GLOBAL ACCOUNTING & ADVISORY SERVICES

Agenda

 

• Introduction to revenue from contracts with customers and key changes

• Scope and identifying the contract

•  Identifying the performance obligations

• Determining the transaction price

• Allocating the transaction price to the separate performance obligations

• Recognizing revenue

• Options to acquire additional goods or services

• Practical application issues

  • Right of return

  • Warranties

  • Nonrefundable upfront fees

  • Bill and hold agreements

  • Consignment arrangements

  • Repurchase rights

• Licenses

• Principal Vs agent

• Contract costs

• Presentation & disclosure

• Effective date and transition