Revenue Recognition: Determine the Transaction Price: Part I

Overview

The new revenue recognition standard outlines five steps for proper compliance. At the surface, these steps seem simplistic. However, there are many considerations that should be considered within each step based on your process and industry. Previous courses in this series have covered the standard at a high level and evaluated step one and two of the standard. They are:

Understanding the Revenue Recognition Standard
Revenue Recognition: Identify the Contract: Part One
Revenue Recognition: Identify the Contract: Part Two
Revenue Recognition: Identify Performance Obligations: Part One
Revenue Recognition: Identify Performance Obligations: Part Two
Revenue Recognition: Determine Transaction Price: Part 1
Revenue Recognition: Determine Transaction Price: Part 2
Revenue Recognition: Allocate the Transaction Price
Revenue Recognition: Recognize Revenue

This segment is designed to evaluate Step Three of the new model dealing with Determining the Transaction Price.