ASC 606 definition

ASC 606 means the Financial Accounting Standards Board Accounting Standards Certification Topic No. 606, as amended.
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ASC 606 means ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) issued by the Financial Accounting Standards Board, as amended from time to time.
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ASC 606 means the Financial Accounting Standards Board Accounting Standards Codification 805 (Revenue Recognition), issued by the Financial Accounting Standards Board in December 2014.
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Examples of ASC 606 in a sentence

  • The proposal should also be considered in relation to ASC 606, Revenue from Contracts with Customers.

  • Under ASC 606, contract manufacturers will move from an inventory method to a progress measure in recognizing revenue and will no longer maintain inventories.

  • Timing of fair value measurement of the investment: ASC 610-20 Gains and Losses from the Derecognition of Nonfinancial Assets and ASC 606 Revenue from Contracts with Customers The Company further considered guidance under ASC 610-20 for the timing of measurement of the Ant Financial Interest.

  • In December 2016, the FASB issued amendments to Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers.

  • The adoption of ASC 606 resulted in no significant changes to The Home’s financial reporting.

  • Using the guidance in ASC 606, Revenue From Contracts With Customers, determine whether Xxxxxxx is a principal or an agent in the Contract to provide Lab Administration to Heisenberg, and therefore whether Xxxxxxx should recognize revenue on a gross or net basis.

  • ASC 606 requires the recognition of revenue when promised goods or services are transferred to customers or clients in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services.

  • The consolidated statement of comprehensive income data for the years ended December 31, 2018, 2019, 2020 and 2021 presented below have been prepared in accordance with ASC 606, while the consolidated statements of comprehensive income data for the year ended December 31, 2017 presented below have been prepared in accordance with ASC Topic 605, Revenue Recognition (“ASC 605”).

  • Changes in Accounting Principles On January 1, 2019, the Clinic adopted Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, and all related amendments (collectively, ASC 606) using the modified retrospective method.

  • Global Knowledge did not adopt ASC 606, Revenue from Contracts with Customers and was not required to adopt the standard in its April 2, 2021 consolidated interim financial statements.


More Definitions of ASC 606

ASC 606. Accounting Standards Codification (ASC) Topic 606: Revenue from Contracts with Customers issued by the Financial Accounting Standards Board.
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ASC 606 means the Financial Accounting Standards Board Accounting Standards Certification Topic No. 606, as amended. “Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent of any Person whose consent is required by Section 9.04), or as otherwise required to be entered into under the terms of this Agreement, substantially in the form of Exhibit A or any other form reasonably approved by the Administrative Agent. “Audited Financial Statements” means the audited consolidated balance sheet of the Target and its consolidated subsidiaries as of December 31, 2017 and December 31, 2018 and the related audited consolidated statements of operations and consolidated statements of comprehensive income, consolidated statements of changes in Redeemable Class B Units and members’ equity and consolidated audited statements of cash flows for the fiscal years ended December 31, 2017 and December 31, 2018. “Available Amount” means, at any date of determination, a cumulative amount equal to (without duplication): (a) an amount (which shall not be less than zero) equal to the Available Excess Cash Flow Amount as of such date, plus (b) (i) the Net Proceeds of sales of Investments and (ii) Returns, profits, distributions and similar amounts on Investments (not to exceed the original amount of such Investments), in the case of each of clause (i) and (ii), to the extent (x) received by the Borrower and the Restricted Subsidiaries after the Effective Date and on or prior to such date, (y) in the form of cash or Cash Equivalents and (z) such Investment was made using the Available Amount, plus (c) Investments of the Borrower or any Restricted Subsidiary in any Unrestricted Subsidiary or any third-party (including any Joint Venture) that has been re-designated as a Restricted Subsidiary or that has been merged, amalgamated or consolidated with or into, or transfers or conveys all of its assets to, or is liquidated, wound up or dissolved into, the Borrower or any Restricted Subsidiary, in each case (x) after the Effective Date and on or prior to such date (up to the lesser of (i) the Fair Market Value of the Investments of the Borrower and the Restricted Subsidiaries in such Unrestricted Subsidiary or third- party at the time of such re-designation or merger, amalgamation or consolidation and (ii) the Fair Market Value of the original Investment by the Borrower and the Restricted Subsidiaries in such Unrestricted Subs...
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Related to ASC 606

  • ASC Topic 718 means the Financial Accounting Standards Board Accounting Standards Codification Topic 718, Compensation – Stock Compensation, as amended or any successor accounting standard.

  • Off-Balance Sheet Liabilities of any Person shall mean (i) any repurchase obligation or liability of such Person with respect to accounts or notes receivable sold by such Person, (ii) any liability of such Person under any sale and leaseback transactions that do not create a liability on the balance sheet of such Person, (iii) any Synthetic Lease Obligation or (iv) any obligation arising with respect to any other transaction which is the functional equivalent of or takes the place of borrowing but which does not constitute a liability on the balance sheet of such Person.

  • Finance Lease Obligations means, as to any Person, the obligations of such Person under a lease that are required to be classified and accounted for as finance lease obligations under GAAP and, for purposes of this definition, the amount of such obligations at any date shall be the capitalized amount of such obligations at such date, determined in accordance with GAAP.

  • ASC means the Financial Accounting Standards Board Accounting Standards Codification, as in effect from time to time.

  • Capital Leases means, in respect of any Person, all leases which shall have been, or should have been, in accordance with GAAP, recorded as capital leases on the balance sheet of the Person liable (whether contingent or otherwise) for the payment of rent thereunder.

  • Off-Balance Sheet Liability of a Person means (a) any repurchase obligation or liability of such Person with respect to accounts or notes receivable sold by such Person, (b) any indebtedness, liability or obligation under any so-called “synthetic lease” transaction entered into by such Person, or (c) any indebtedness, liability or obligation arising with respect to any other transaction which is the functional equivalent of or takes the place of borrowing but which does not constitute a liability on the balance sheet of such Person (other than operating leases).