Kpmg Revenue Recognition Guide No 2016 08 Revenue from Contracts with Customers Topic 606 Principal versus Agent Considerations Reporting Revenue Gross versus Net No 2016 10 Revenue from Contracts with Customers Topic 606 Identifying Performance Obligations and Licensing No 2016 12 Revenue from Contracts with Customers Topic 606 Narrow
Consideration payable to a customer includes both cash and noncash amounts such as cash amounts that a company pays or expects to pay to the customer or to other parties that purchase the company s goods or services from the customer i e a customer s customers and credits or other items e g a coupon or voucher that can be Revenue 41 9 Income and expenses 47 10 Net finance costs 48 11 Earnings per share 49 This guide has been produced by the KPMG International Standards Group part recognition of their assets and liabilities income and expenses Also due to continued liquidity pressures some entities may face going concern
Kpmg Revenue Recognition Guide
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Streamline and automate revenue recognition processes to reduce close times and inaccuracies while getting access to insights faster KPMG s holistic approach covers the full lifecycle of revenue recognition standard implementation from assessment to requirements and design to implementation And our project management professionals
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Kpmg Revenue Recognition Guide
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KPMG Handbook Revenue recognition is a complement to this industry specific Handbook It illustrates how ASC 606 applies to common transactions provides examples about common scenarios explains our emerging thinking on key interpretative issues and compares the new requirements to legacy US GAAP Report contents
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9 4 Timing and pattern of revenue recognition 190 9 5 Contractual restrictions and attributes of licences 192 9 6 Sales or usage based royalties 194 10 Other application issues 202 10 1 Sale with a right of return 202 10 2Warranties 206 10 3 Principal vs agent considerations 210 10 4 Customer options for additional goods or services 226
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Revenue Recognition Revenue Recognition Applying and implementing ASC Topic 606 is not a simple exercise And getting it right is extremely important since the integrity and consistency of a company s financial statements cannot be thoroughly assessed by investors without accurate revenue recognition
2014 KPMG LLP a Delaware limited liability partnership and the U S member firm of the KPMG network of on revenue recognition that currently exists under IFRS and U S GAAP The 2017 effective date might seem a long way off but already many companies are analyzing the implications for both to guide you through the requirements of From the IFRS Institute August 30 2019 IFRS 15 and ASC 606 Revenue from Contracts with Customers went live for all IFRS preparers and most US public business entities in 2018 The standards go live for other US GAAP reporters in 2019 Interpretive questions persist the IFRS Interpretations Committee has been issuing Agenda Decisions
This supplement has been produced by the KPMG International Standards Group part of KPMG IFRG Limited to complement our Guide to annual financial statements Illustrative disclosures IFRS 15 replaces existing guidance and introduces a new model for revenue recognition that is based on the transfer of control This may affect the