ASC 605 definition

ASC 605 means the Accounting Standards Codification Topic 605 of the Financial Accounting Standards Board.
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ASC 605 means Accounting Standards Codification 605, Revenue Recognition issued by the Financial Accounting Standards Board, prior to giving effect to ASC 606.
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Examples of ASC 605 in a sentence

  • The Company’s revenue recognition policies are in compliance with Staff Accounting Bulletin SAB 104 (ASC 605).

  • We recognize revenue in accordance with ASC 605, Revenue Recognition.

  • In accordance with ASC 605, Revenue Recognition, the Group recognizes revenue when the following criteria are met: persuasive evidence of an arrangement exists, the sales price is fixed or determinable, delivery has occurred and collectability is reasonably assured.

  • An evaluation of TriSource’s revenue recognition policy under ASC 605 could result in material but offsetting adjustments to both interchange and network fee revenue and expense.

  • Net sales presented in the unaudited pro forma condensed combined statement of income for the year ended December 30, 2017, were recognized, for both Cohu and Xcerra, using ASC 605, Revenue Recognition (“ASC 605”).

  • Xcerra’s net sales presented in the unaudited pro forma condensed combined statement of income for the six months ended June 30, 2018, have been recognized using ASC 605.

  • The Company recognizes revenue in accordance with ASC 605, Revenue Recognition, when persuasive evidence of an arrangement exists, the price is fixed or determinable, collection is reasonably assured and delivery of products has occurred or services have been rendered.

  • Based on Xcerra’s assessment, Xcerra’s management expects Xcerra’s results will not be materially different from those recognized under ASC 605 and, as such, no adjustment to Xcerra’s net sales in the unaudited pro forma condensed combined statement of income for the six months ended June 30, 2018, has been made.

  • The 2022 Audited Financial Statements shall be prepared in accordance with GAAP, consistently applied, as if the Company is a Public Business Entity (PBE) (as defined in ASU No. 2013-12 and applicable interpretations and guidance of the United States Securities and Exchange Commission), and using AICPA Audit Standards (excluding disclosures in the period of adoption regarding adoption of ASC 606 and how it is applied retrospectively and how ASC 605 would have been reporting in the period of adoption).

  • Under ASC 605, Xcerra recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the seller’s price is fixed or determinable and collectability is reasonably assured.

Related to ASC 605

  • FASB means the Financial Accounting Standards Board.

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

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

  • PTCE 95-60 As defined in Section 5.02(b). PUD: A planned unit development.

  • FAS means Free alongside shipment