A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
ASC 808 COLLABORATIVE ARRANGEMENTS
The new guidance provides more comparability in the presentation of revenue by allowing organizations to only present units of account in collaborative arrangements that are within the scope of ASC 606 together with the revenue accounted for under ASC 606. The new guidance affects the scope section of ASC 808. Determining the proper accounting treatment for the various activities included in these endeavors is the subject of ASC 808, Collaborative Arrangements. The description of collaborative arrangements included two criteria: active involvement by participants and exposure to risks and rewards. A collaborative arrangement involves a joint operating activity. This chapter provides an example of a collaborative arrangement that describes the arrangement and how to determine if it meets the requirements for applying ASC 808.
ASC 808 COLLABORATIVE ARRANGEMENTS
The new guidance provides more comparability in the presentation of revenue by allowing organizations to only present units of account in collaborative arrangements that are within the scope of ASC 606 together with the revenue accounted for under ASC 606. The new guidance affects the scope section of ASC 808. Determining the proper accounting treatment for the various activities included in these endeavors is the subject of ASC 808, Collaborative Arrangements. The description of collaborative arrangements included two criteria: active involvement by participants and exposure to risks and rewards. A collaborative arrangement involves a joint operating activity. This chapter provides an example of a collaborative arrangement that describes the arrangement and how to determine if it meets the requirements for applying ASC 808.
ASC 808 COLLABORATIVE ARRANGEMENTS
Flood, Joanne M. (author)
Wiley GAAP 2021 ; 889-900
2021-03-09
12 pages
Article/Chapter (Book)
Electronic Resource
English
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