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Topic 605 Revenue Recognition Changes

Scout Young's Profile

In practice, what differences matter to you and/or do you think others may find significant?

Answers

Sarah Jackson
Title: Associate Editor
Company: Proformative
(Associate Editor, Proformative) |

Proformative has a free webinar this Thursday with one unit of CPE that covers all things things rev rec:

"The New World of Revenue Recognition: Industry Impacts and Transition Options" https://www.proformative.com/events/new-world-revenue-recognition-industry-impacts-transition-options

Best... Sarah

Jeff Tchir
Title: Founder and Technical Advisor, RevRec.NE..
Company: RevRec.NET
LinkedIn Profile
(Founder and Technical Advisor, RevRec.NET, RevRec.NET) |

Here are my big 3:

1. No VSOE needed for PCS or specified upgrades. Nice - no ridiculous deferrals of software revenue.
2. Ability to use a probability assessment for possible contingent revenue limitations. Very nice - don't have to assume the worst however remote.
3. Requirement to capitalize and amortize costs to fulfill a contract. Not so nice - I can't use my policy choice anymore to flow thru service costs in the period.

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