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Revenue Recognition 2010

Revenue Recognition 2010

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Published by Cindy Zhang

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Published by: Cindy Zhang on May 26, 2012
Copyright:Attribution Non-commercial

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03/07/2014

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The “specifc performance method” is used to recognize revenue in arrangements

that require the performance of only a single act of service. Under this method,

revenue is recognized when the service is performed. Applying the specifc performance
method is appropriate for many service arrangements, including, among others, the
following examples:

• Technicians providing in-home maintenance and repair services if the services

are completed in a single visit

• Personal trainers providing individual training sessions at a ftness center
• Movie theaters showing a single performance of a movie
• Vehicle recovery technicians towing a stalled vehicle from the highway

to a maintenance facility

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