ASC 606: Challenges in understanding and applying revenue recognition

John Hepp

Research output: Contribution to journalArticlepeer-review


Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers, introduces what the FASB refers to as a comprehensive, cohesive, and converged revenue standard to replace practices based on broad concepts and industry specific guidance or transaction-based guidance. Some challenges in understanding and applying a control-based revenue recognition model that new professionals are likely to encounter are discussed.

Original languageEnglish (US)
Pages (from-to)49-51
Number of pages3
JournalJournal of Accounting Education
StatePublished - Mar 2018


  • ASC 606
  • ASC 842
  • Revenue recognition

ASJC Scopus subject areas

  • Accounting
  • Education


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