9 18 April 2016 FASB TRG meeting agenda paper no 54 10 Paragraph BC394 of ASU

9 18 april 2016 fasb trg meeting agenda paper no 54

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9 18 April 2016 FASB TRG meeting; agenda paper no. 54. 10 Paragraph BC394 of ASU 2014-09. 11 13 July 2015 TRG meeting; agenda paper no. 44. 12 7 November 2016 TRG meeting; agenda paper no. 59. 13 Paragraph BC31 of ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) . 14 ASC 606-10-55-353 through 55-356. 15 ASC 606-10-55-151 through 55-157A. 16 Paragraph BC16 of ASU 2016-10. 17 Paragraph BC364 of ASU 2014-09. 18 ASC 606-10-55-202 through 55-207. 19 13 July 2015 TRG meeting; agenda paper no. 35. 20 18 April FASB TRG meeting; agenda paper no. 52. 21 ASC 606-10-32-2A. 22 Paragraph BC21 of ASU 2016-10. 23 Speech by Wesley R. Bricker, 9 June 2016. Refer to SEC website at - remarks-35th-financial-reporting-institute-conference.html. 24 7 November 2016 TRG meeting; agenda paper no. 58. 25 ASC 606-10-55-375 through 55-376. 26 ASC 606-10-55-309 through 55-315. EY | Assurance | Tax | Transactions | Advisory © 2019 Ernst & Young LLP. All Rights Reserved. SCORE No. 03068-171US (Updated 17 July 2019) ED None ey.com/us/accountinglink About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation is available via ey.com/privacy . For more information about our organization, please visit ey.com . Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited operating in the US. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice.
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EY AccountingLink | ey.com/us/accountinglink 24 | Technical Line How the new revenue standard affects retail and consumer products entities Appendix: The five-step revenue model and contract costs The standard’s core principle is that an entity recognizes revenue at an amount that reflects the consideration to which the entity expects to be entitled in exchange for transferring goods or services to a customer. That principle is applied using five steps that require entities to exercise judgment when considering the terms of their contract(s) and all relevant facts and circumstances. Entities have to apply the requirements of the standard consistently to contracts with similar characteristics and in similar circumstances. This table summarizes the revenue model and the guidance for contract costs.
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