Pwc's Cfodirect Podcast

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.Our 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