I have a question about the recognition of the upfront set-up fees per new GAAP. My understanding is that those should be spread over the life of a contract. Is that correct? Also, in regards to the implementation for private entities - as of 1/2019 should the revenue be restated old GAAP vs. new GAAP? Thanks for help.
ASC 606 - Revenue from contract with customers
Answers
There's a good breakdown at https://www.iasplus.com/en-us/standards/fasb/revenue/asc606 about this. It lists the dates for different entity types.
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