ASC 606 Step 5 – Performance Obligations Satisfied Over Time

This is episode 23 of 26 of a larger series. Click link below to begin full course playlist:    • Revenue Recognition Under ASC 606: Series ...   When a performance obligation is satisfied over time, revenue is recognized progressively. But not every ongoing service qualifies. In this episode, we walk through the three criteria that determine whether over-time recognition applies. We cover: The three criteria for over-time revenue recognition under ASC 606 How each criterion works and what types of obligations they capture How to apply the criteria to different kinds of contracts The key rule: only one criterion needs to be met By the end of this video, you'll understand: What the three over-time criteria are and how they differ How to determine which criterion (if any) a performance obligation meets What "enforceable right to payment" requires for the third criterion 📚 Learn more at intellicasts.com