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EITF 08-9: Milestone Method of Revenue Recognition

On April 7, 2009 the EITF published a draft abstract of EITF 08-9, “Milestone Method of Revenue Recognition.” If approved, EITF 08-9 will introduce a new method of revenue recognition that allows vendors to recognize the revenue associated with a contractual incentive or bonus at the time that obligation is fulfilled instead of systematically over the time of the contract.

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ASC 606 Revenue Recognition Checklist

Do you know the five steps of ASC 606 and the impact of them on your revenue? The SOFTRAX ASC 606 Checklist can help.