Revenue accounting reset - Presentation and disclosure

PwC's accounting podcast

We continue our revenue accounting podcast miniseries with an episode focused on presentation and disclosure. From balance sheet and income statement classification to required disclosures under ASC 606, we highlight key guidance and address key areas where questions often arise in practice.

In this episode, we discuss:

• 1:27 – Income statement presentation of revenue
• 4:16 – Balance sheet presentation considerations related to revenue
• 9:38 – Overview of revenue disclosure objectives and the five primary disclosure areas:
  • 11:27 – Disaggregated revenue
  • 18:40 – Performance obligations
  • 23:26 – Significant judgments
  • 26:31 – Contract balances
  • 29:01 – Costs to obtain or fulfill a contract

For more information, chapter 33 of our Financial statement presentation guide. You can also listen to the other episodes in this series:

• Revenue accounting reset – Recognizing revenue
• Revenue accounting reset – Variable consideration
• Revenue accounting reset – Consideration payable to a customer

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About our guests

Christine Moore is a director in PwC’s National Office advising audit and non-audit clients on complex accounting and financial reporting matters. She advises on revenue arrangements for public and private companies across various industries, with a focus on companies in the pharmaceutical and life sciences industry.

Mike Coleman is a partner in PwC's National Office who specializes in accounting for revenue and software arrangements and has served technology clients for much of his career. In addition, Mike has represented the firm on the AICPA Software Task Force.

About our guest host

Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]

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챕터

1. Revenue accounting reset - Presentation and disclosure (00:00:00)

2. Income statement presentation of revenue (00:01:27)

3. Balance sheet presentation considerations related to revenue (00:04:16)

4. Overview of revenue disclosure objectives and the five primary disclosure areas (00:09:38)

5. Disaggregated revenue (00:11:27)

6. Performance obligations (00:18:40)

7. Significant judgments (00:23:26)

8. Contract balances (00:26:31)

9. Costs to obtain or fulfill a contract (00:29:01)