In this episode, we investigate the Levi Strauss 2023 10K to see which revenue accounting practices may impact how they recognize and report revenue.

In Episode 40, we talked about Transfer of Control over time. Now it's time to discuss indicators that Transfer of Control has occurred at a point in time.

The RevRec Gals are welcoming 2025 with our 40th episode! Who knew there was so much to nerd out about related to Revenue Accounting?

This episode's topic is transfer of control over time. We discuss the criteria and indicators for recognizing revenue over time.

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Step 2 of ASC 606 is to identify your performance obligations. That task requires an understanding of how the guidance defines Distinct. Listen in as we discuss the nuances of determining if a good or service is distinct or distinct within the context of the contract.

In this episode, we are excited to welcome Jeff Alley of Everest Systems. The discussion covers a range of topics from the challenges faced by SaaS companies to how Revenue Accountants have a similar mind-set to system developers. He also tells us more about the SaaS ERP application his company is building which covers the full end-to-end process from booking to record and reporting.

This episode is a bit different. It's what we call a Case Study. We've taken a product or service, in this case, the HP Instant Ink Plan, and based on the information available to us, discussed what the Revenue team might have considered in determining the appropriate recognition for this service.

ASC606 requires that adjustments to revenue be done at the transaction level. That's not always feasible due to a high volume of transactions or the inability to identify specific contracts to which the adjustment applies. In this episode, we discuss the Portfolio Method and how a top-level adjustment can be made which results in reporting revenue that is not materially different from adjusting on a transaction by transaction basis.

Join us in this episode for a discussion on implied performance obligations, the challenges they present, and where to look for them.