Pwc's Cfodirect Podcast

Text us your thoughts on this episodeOur revenue miniseries continues with identifying the contract, the first step in the five-step model in the revenue standard. It's important to get this step right to appropriately apply the model for recognizing revenue. In this episode, we discuss:4:10 – The five criteria to have a contract with a customer under the revenue standard 8:23 – The impact of master services agreements and enforceable rights16:03 – Assessing collectibility of the consideration in the contract27:08 – Determining the contract term For more information, read chapter 2 of our Revenue guide. Also, to hear more on revenue topics, listen to the first episode in this miniseries, Gross versus net revenue: Is your company the principal or agent?. Additionally, follow this podcast on your favorite podcast app for more episodes.Mike Coleman is a partner in PwC's National Office with over 30 years of experience. Mike specializes in accounting for revenue and software arrangements and has served