ASC 606

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Across
  1. 3. – Describes when the rule is applied.
  2. 7. – Amount received from a customer.
  3. 10. – Guides recognition when amounts are small.
  4. 12. – Broker-dealer’s primary form of compensation.
  5. 13. – Required when determining variable consideration.
  6. 18. – Required information about revenue recognition.
  7. 19. – Movement of control to the customer.
  8. 22. – Timing of revenue entry in financials.
  9. 23. – Meeting a performance obligation.
  10. 25. – Consideration not fixed at contract inception.
  11. 26. – When the customer can direct use of the asset.
  12. 28. – Combining multiple obligations in one offering.
  13. 30. – What is exchanged for promised goods/services.
Down
  1. 1. – What ASC 606 governs recognition of.
  2. 2. – Obligation a firm must satisfy to recognize revenue.
  3. 4. – Accounting treatment for contract acquisition costs.
  4. 5. – Promised performance to a customer.
  5. 6. – Costs to obtain or fulfill a contract.
  6. 8. – Party receiving the service.
  7. 9. – Price agreed upon for the service.
  8. 11. – ASC 606 is a revenue recognition _____.
  9. 14. – Required in determining revenue timing.
  10. 15. – Distribution of transaction price across obligations.
  11. 16. – Defines which contracts ASC 606 applies to.
  12. 17. – Independent review of financial accuracy.
  13. 20. – Field impacted by ASC 606.
  14. 21. – Agreement with a customer creating enforceable rights.
  15. 24. – Revenue recognized when control transfers (often in broker-dealer context).
  16. 27. – Revenue recognized gradually.
  17. 29. – Costs incurred only if contract is obtained.