Table
of Contents
Chapter
1 - Revenue Recognition: The New Guidelines - Section 1
Part
I - The Fundamentals of the Revenue
Standard
The
Need to Issue the New Guidance.
The
Significant Improvement for Revenue Accounting
Key
Changes of Revenue Recognition Practice
Modified
Retrospective Adoption
The
Impact of Each Transition Method
Consideration
for SEC Registrants
Exhibit
A: Ford Motor Company Quarterly Report - Notes to the Financial Statements
Essence
of a Performance Obligation
Determination
of the Transaction Price
Allocation
of the Transaction Price
Satisfaction
of Performance Obligation
More
Efforts to Determine the Contract Existence
Differing
Revenue Streams and Related Activities
Additional
Estimates and Judgment
More Comprehensive Presentation and Disclosure
Requirements
Practices of Certain Industries
Chapter
1 - Section 1 Review Questions.
Chapter
1 - Revenue Recognition: The New Guidelines - Section 2
Part
II: The Application of the Revenue Recognition Model
Step
1: Identify the Contract with a Customer
Required
Criteria - Contracts with Customers
Collectibility
of the Consideration
Definition
of a Contract Modification
Types
of Contract Modifications
Modification
Accounted for as a Separate Contract
Modification
Accounted for Prospectively
Modification
Accounted for as Part of the Original Contract
Step
2: Identify the Performance Obligations
Identification
of Promises in a Contract
Determination
of Distinct Goods or Services
Chapter
1 - Section 2 Review Questions.
Chapter
1 - Revenue Recognition: The New Guidelines - Section 3
Step
3: Determine the Transaction Price
Components
of the Transaction Price
Forms
of Variable Consideration
Estimating
Variable Consideration
Constraint
on Variable Consideration
Significant
Financing Component
Consideration
Payable to a Customer
Step
4: Allocate the Transaction Price to the Performance Obligations
Definition
of Standalone Selling Prices
Estimating
Standalone Selling Prices
Adjusted
Market Assessment Approach
Expected
Cost Plus a Margin Approach
Allocating
Variable Consideration
Changes
to the Transaction Price
Satisfaction
of Performance Obligations
Performance
Obligations Satisfied Over Time.
Measures
of Progress over Time
Performance
Obligations Satisfied at a Point in Time
Chapter
1 - Section 3 Review Questions.
Chapter
1 - Revenue Recognition: The New Guidelines - Section 4
Part
III: Other Revenue Topics
Principal
versus Agent Considerations
Definitions
of Principal and Agent
Principal
and Agent Indications
Chapter
1 - Section 4 Review Questions.
Chapter
1 - Revenue Recognition: The New Guidelines - Section 5
Scope
of the Licensing Guidance
Determining
Whether a License Is Distinct
Determining
the Nature of a Distinct License
Symbolic
Intellectual Property (Right to Access)
Functional
Intellectual Property (Right to Use)
Determining
Whether Contractual Provisions Represent Attributes of a License or Additional
Rights
Sales-
or Usage-Based Royalties
Customer
Options for Additional Goods or Services
Statement
of Financial Position
Disclosure
for Public Entities
Exhibit
B: Disaggregation of Revenue - Quantitative Disclosure
Assets
Recognized from the Costs to Obtain or Fulfill a Contract with a Customer
Disclosure
for Nonpublic Entities
Assets
Recognized from the Costs to Obtain or Fulfill a Contract with a Customer
Part
IV Implication to Internal Controls
Responsibilities of SEC Registrants
The
Role of Internal Control over Financial Reporting
Exhibit
C: Ford Motor Company Quarterly Report - Item 4. Controls and Procedures
Chapter
1 - Section 5 Review Questions.
Chapter
1 - Revenue Recognition: The New Guidelines - Section 6
Design
and Implementation of Controls.
Identify the Contract with a Customer
Identify the Performance Obligations
Determine
the Transaction Price
Allocate
the Transaction Price
Chapter
1 - Section 6 Review Questions.
Chapter
1 - Section 1 Review Questions Feedback
Chapter
1 - Section 2 Review Questions Feedback
Chapter
1 - Section 3 Review Questions Feedback
Chapter
1 - Section 4 Review Questions Feedback
Chapter
1 - Section 5 Review Questions Feedback
Chapter
1 - Section 6 Review Questions Feedback
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