2017-17913: Commission Guidance Regarding Revenue Recognition for Bill-and-Hold Arrangements
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The Commission is publishing this interpretive release in order to bring existing guidance into conformity with Financial Accounting Standards Board Accounting Standards Codification Topic 606, Revenue from Contracts with Customers. Upon adoption of Accounting Standards Codification Topic 606, registrants should no longer rely on the guidance in Securities Exchange Act Release No. 23507 and Accounting and Auditing Enforcement Release No. 108, In the Matter of Stewart Parness, which set forth the criteria to be met in order to recognize revenue when delivery has not occurred.
The agency’s own summary, as published.
What this changes
Amends 3 parts of the Code of Federal Regulations — the standing rules this notice rewrites.
- 17 CFR 231 Interpretative Releases Relating to the Securities Act of 1933 and General Rules and Regulations Thereunder
- 17 CFR 241 Interpretative Releases Relating to the Securities Exchange Act of 1934 and General Rules and Regulations Thereunder
- 17 CFR 271 Interpretative Releases Relating to the Investment Company Act of 1940 and General Rules and Regulations Thereunder
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