SEC Commentary on ASC 606 Revenue Recognition Disclosures

Authors

Steven Driscoll
Jeff Wilks, Brigham Young University - ProvoFollow

Keywords

SEC comment letters, revenue recognition, disclosure challenges

Abstract

As of January 31, 2020, the SEC had issued 160 comment letters concerning revenue recognition disclosure requirements (ASC 606-10-50). As shown in the chart below, most of the letters were uploaded during the second half of 2018, with more trickling in throughout 2019. We can find patterns and pain points when looking at the letters collectively. Certain disclosure requirements received a lot of attention, and certain industries struggled more than others. What exactly have we learned from the initial wave of comment letters?

Original Publication Citation

SEC Commentary on ASC 606 Revenue Recognition Disclosures (S. Driscoll and T. J. Wilks), RevenueHub, June 22, 2020. (2,637 unique views as of Jan. 13, 2023)

BYU ScholarsArchive Citation

Driscoll, Steven and Wilks, Jeff, "SEC Commentary on ASC 606 Revenue Recognition Disclosures" (2020). Faculty Publications. 8650.
https://scholarsarchive.byu.edu/facpub/8650

Document Type

Peer-Reviewed Article

Publication Date

2020

Publisher

RevenueHub

Language

English

College

Marriott School of Business

Department

Accountancy

University Standing at Time of Publication

Full Professor

Copyright Use Information

https://lib.byu.edu/about/copyright/