U.S. GAAP Codification of Accounting Standards

U.S. GAAP Codification IFRS International Standards Accounting Standards, ASC

U.S. GAAP Accounting Standards
Codification Topic 605: Revenue Recognition
SEC Staff Accounting Bulletin Topic 13


Principles of Accounting Intermediate Financial AccountingU.S. GAAP Textbook
IFRS,  IFRS Dictionary IFRS U.S. GAAP Comparison IFRS Texbook
Securities Law Library,  Accounting by Topic Accounting Terms Dictionary


Codification Topic 605
Revenue Recognition
SEC Staff Accounting Bulletin Topic 13


SEC Staff Accounting Bulletin (SAB) No. 104
1. In December 1999: SAB 101 added new Topic 13 to the SAB Codification
2. In December 2003: SAB 104 revised Topic 13
3. SAB Topic 13: Revenue Recognition

Revenue Recognition Issues 
1. Revenue recognition, general
2. Persuasive evidence of arrangement
3. Delivery and performance
4. Fixed or determinable sales price

Delivery and performance
1. Bill and hold arrangements
2. Customer acceptance
3. Inconsequential or perfunctory performance obligations
4. License fee revenue
5. Layaway sales arrangements
6. Nonrefundable up-front fees
7. Deliverables within an arrangement

Fixed or determinable sales price
1. Refundable fees for services
2. Estimates and changes in estimates
3. Contingent rental income
4. Claims processing and billing services

SEC Staff Accounting Bulletin Codification
Topic 1: Financial Statements
Topic 2: Business Combinations
Topic 3: Senior Securities
Topic 4: Equity Accounts
Topic 5: Miscellaneous Accounting
Topic 6: Interpretations of Accounting Series Releases and Financial Reporting Releases
Topic 7: Real Estate Companies
Topic 8: Retail Companies
Topic 9: Finance Companies
Topic 10: Utility Companies
Topic 11: Miscellaneous Disclosure
Topic 12: Oil and Gas Producing Activities
Topic 13: Revenue Recognition
Topic 14: Share-Based Payment


International Financial Reporting Standards (IFRS)
   
   IAS 18: Revenue


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   Codification Topic 605
   Revenue Recognition
 
Subtopics of Codification Topic 605
 
   605-10 Overall
   605-15 Products
   605-20 Services
   605-25 Multiple-element arrangements
   605-30 Rights to use
   605-35 Construction-type and production-type contracts
   605-40 Gains and losses
   605-45 Principal agent considerations
   605-50 Customer payments and incentives
 
Accounting Terms of Codification Topic 605-10
 
   Readily convertible to cash   
 
Accounting Terms of Codification Topic 605-15
 
   Warranty   
 
Accounting Terms of Codification Topic 605-20
 
   Extended warranty
   Product maintenance contracts
   Retrospective insurance arrangements
   Separately priced contracts
 
Accounting Terms of Codification Topic 605-25
    

 
Accounting Terms of Codification Topic 605-30
    

 
Accounting Terms of Codification Topic 605-35
 
   Contractor
   Cost-plus-award-fee contract
   Cost-plus-fixed-fee contract
   Cost-plus-incentive-fee contract (incentive based on cost)
   Cost-plus-incentive-fee contract (incentive based on performance)
   Cost-sharing contract
   Cost-type contracts
   Cost-without-fee contract
   Firm fixed-price contract
   Fixed-price contract with economic price adjustment
   Fixed-price contract providing for firm target cost incentives
   Fixed-price contract providing for performance incentives
   Fixed-price contract providing for prospective periodic redetermination of price
   Fixed-price contract providing for retroactive redetermination of price
   Fixed-price contract providing for successive target cost incentives
   Fixed-price level-of effort term contract
   Fixed-price contracts
   Profit center
   Time-and-material contracts
   Unit-price contracts
 
Accounting Terms of Codification Topic 605-40
    

 
Accounting Terms of Codification Topic 605-45
 
   Handling costs
   Shipping costs   
 
Accounting Terms of Codification Topic 605-50
 
   Breakage
   Buydowns
   Cash consideration
   Consideration
   Cooperative advertising
   Customer
   Reseller
   Slotting fees
   Vendor



   Other Topics at the Codification 600 
Accounting Standards Codification, ASC, Overview
 
ASC Codification Topic 605: Revenue Recognition
 
   Topic 605 is the only topic at the 600 level.
 


   U.S. GAAP Codification of Accounting Standards
Accounting Standards Codification, ASC, Overview
ASC Codification 200: Presentation
ASC Codification 300: Assets
ASC Codification 400: Liabilities
ASC Codification 500: Equity
ASC Codification 600: Revenue
ASC Codification 700: Expenses
ASC Codification 800: Broad Transactions
ASC Codification 900: Industry

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