Transcription of Under ASC 605 - Deloitte
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Under ASC 605 - Deloitte
Life Sciences Accounting and Financial Reporting Update . Interpretive Guidance on Revenue Recognition Under ASC 605. March 2017. Revenue Recognition Introduction Many transactions in the life sciences industry must be carefully analyzed for revenue recognition purposes. Revenue recognition topics that are particularly relevant to life sciences entities include the SAB Topic 131 requirements ( , sales price is fixed or determinable, collectibility is reasonably assured); the accounting for multiple elements; the ability to estimate returns; and the accounting for discounts, rebates, and incentives. Further, biotech and pharmaceutical firms may sometimes encounter complexities related to the milestone method of accounting, the proportional performance method of revenue recognition, principal-agent considerations, license fees, contingent revenue, and up-front payments.
Mar 03, 2016 · 4 • The significance of a particular distributor to the registrant’s (or a reporting segment’s) business, sales, and marketing. • The newness of a product. • The introduction of competitors’ products with superior technology or greater expected market acceptance. • Other factors that affect market demand and changing trends in that demand for the
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