2018年12月31日你的卡车在哪里?

对于许多非公共运输公司, 12月31日你们的卡车在哪里, 2018 is an important question to prepare yourself for the upcoming revenue recognition changes.  1月1日开始, 2019, nonpublic companies are required to adopt the 金融 Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) No. 2014-09, 客户合同收入, 哪些改变了收入确认的核心原则.  Companies have the option to elect the full retrospective or modified retrospective transition method while transitioning to the new standard.  Under the full retrospective transition method, companies will present the provisions of ASU No. 2014-09 to the year-end December 31, 2018 and any other prior periods presented.  Under the modified retrospective transition method, companies will present the provisions of ASU No. 2014 - 09年回顾, with the cumulative effect of initially applying the adoption recognized at the date of initial application, 1月1日, 2019.

Since companies need to understand the impacts of implementation, it is important to consider revenue recognition principles at December 31, 2018, 特别是当它们与那个日期的公开合同有关时.  Currently, many transportation companies recognize revenue when freight is delivered.  在新的收入确认准则下, transportation companies will have to assess whether to recognize revenue over time or at a point in time.  如ASU编号. 2014-09, “Revenue is recognized over time only when an entity transfers control of a good or service. The performance obligation is considered satisfied over time if one of the following criteria is met to indicate transfer of control:

1. The customer receives and consumes the benefits provided by the entity’s performance as the entity performs,
2. The entity’s performance creates or enhances an asset (for example, building an addition to an existing home) that the customer controls as the asset is created or enhanced, or
3. The entity’s performance does not create an asset with an alternative use to the entity, and the entity has an enforceable right to payment for performance completed to date.”

Many transportation companies will meet the revenue recognition over time based on the fact that the customer simultaneously receives and consumes the benefits provided by the entity’s performance as the entity performs.  Customers receive benefit from a carrier transporting the goods halfway, as another company could pick up the goods and complete the delivery without having to reperform the services provided to date.  For many companies that have historically recognized revenue at a point in time, they will need to consider the criteria creating “over time” revenue recognition.  Companies should evaluate how to measure the performance obligations by distance shipped, 运输所需的天数或费用. 

总之, transportation companies may have deliveries in transit at year-end and knowing the shipment status at December 31, 2018 will help nonpublic companies implement the new revenue recognition standard.