Wiley revenue recognition : understanding and implementing the new standard

Wiley Revenue Recognition plus Website: Understanding and Implementing the New Standard -- Contents -- Executive Summary -- What Is Revenue? -- Revenue versus Gains -- IFRS -- The New Revenue Standard -- Development of Revenue Guidance -- U.S. GAAP -- IFRS -- The Revenue Recognition Project -- The New Standards -- Project Goals -- Effective Dates -- Collectibility Thresholds -- Interim Requirements -- Promised Goods Or Services Immaterial in the Context of the Contract -- Presentation of Sales Taxes -- Shipping and Handling Activities -- Noncash Consideration -- Licensing -- Completed Contracts -- Practical Expedient for Contract Modification-Date of Application -- Disclosure Relief for Nonpublic Entities -- Impairment Loss Reversal -- Scope -- Scope Exceptions -- Example ES.1: Nonmonetary Exchanges to Facilitate Sales to Customers or Potential Customers -- Contracts Partially in Scope -- Example ES.2: Contract Partially Out of Scope -- Sale of Transfer of Nonfinancial Assets -- Effective Dates -- Changes to Effective Dates -- Other Changes to the Standard -- Implementation Options -- Full Retrospective Approach -- Modified Retrospective Approach -- Objective of the Standard -- Core Principle and the Five Steps of the Revenue Recognition Model -- Example ES.3: Application of the Core Principle Through the Five Steps -- Disclosures Required By the Standard -- Forming and Documenting Professional Judgment -- Disclosures Required for a New Standard -- Other Changes Included in the Standard -- Sec Response -- Industry-Specific Guidance Superseded -- Aicpa Industry Committees -- Changes to Industry-Specific Guidance -- Transition Resource Group -- Appendix: Status of Issues Brought to the Boards -- 1: Step 1-Identify the Contract With the Customer -- Overview -- Assessing Whether Contracts Are Within the Scope of the Standard.