Control principle in the principal vs agent analysis Watch the video Incremental costs of obtaining a contract Capitalization of commissions and compensation Watch the video Disaggregation of revenue disclosures SEC comments on disaggregation of revenue disclosures ...
If a contract with a customer includes more than one specified good or service, an entity could be a principal for some specified goods or services and an agent for others. ASC 606-10-55-36A: To determine the nature of its promise (as described in paragraph 606-10-55-36), t...
Home IFRS US IFRS US If the entity is a principal, then revenue is recognised on a gross basis – corresponding to the consideration to which the entity expects to be entitled. If the entity is an agent, then revenue is recognised on a net basis – corresponding to any fee or commission...
A public entity’s application of US GAAP and SEC regulations Certain provisions of US GAAP for public entities differ from those for nonpublic entities. Notably, public business entities (PBEs) are generally required to adopt new accounting standards before private companies. Although companies that...
Implications The tax proposals identified in this Tax Alert are designed to raise tax revenues to fund the Biden Administration's priorities. If enacted, they would significantly increase taxes on US multinational companies. Their prospects for enactment, however, appear dim, given the current composi...
A rebate for a portion of the interest earned on the cash collateral is paid to the security lending agent for arranging the transaction. If the collateral is other than cash, the Fund typically receives a fee as compensation for the securities loaned. The Fund also continues to receive ...