Regulatory Alerts2017-08-29 | 2017-17913Added
Commission Guidance Regarding Revenue Recognition for Bill-and-Hold Arrangements
The Securities and Exchange Commission issued this interpretation to align existing revenue recognition guidance with Financial Accounting Standards Board Accounting Standards Codification Topic 606. Registrants must cease relying on prior criteria from Securities Exchange Act Release No. 23507 and AAER 108 for bill-and-hold arrangements upon adopting ASC Topic 606. The document also amends Staff Accounting Bulletin Topics 8, 11, and 13 to reflect that these sections are no longer applicable once ASC Topic 606 is adopted.
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