Commission Guidance Regarding Revenue Recognition for Bill-and-Hold Arrangements
SEC · other · Published 2017-08-29 · Effective 2017-08-29 · 82 FR 41147
Document
Document number
2017-17913
Federal Register citation
82 FR 41147
CFR reference
17 CFR 231
Type
Rule
Action
Interpretation.
Category
other
Agency
US Securities and Exchange Commission
Publication date
2017-08-29
Effective date
2017-08-29
Docket
Release Nos. 33-10402
Abstract
The Commission is publishing this interpretive release in order to bring existing guidance into conformity with Financial Accounting Standards Board Accounting Standards Codification Topic 606, Revenue from Contracts with Customers. Upon adoption of Accounting Standards Codification Topic 606, registrants should no longer rely on the guidance in Securities Exchange Act Release No. 23507 and Accounting and Auditing Enforcement Release No. 108, In the Matter of Stewart Parness, which set forth the criteria to be met in order to recognize revenue when delivery has not occurred.