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Advisory 19-03, Revenue Recognition (Topic 606): Disclosures is NACUBO's third and final advisory on revenue recognition. This advisory notes that most of the required disclosure information is already included in the summaries of significant accounting policies. This report also clarifies why the new requirements should have a very limited impact on higher education institutions.


Advisory 19-03 walks through the following seven major categories of disclosure requirements:

  1. General disclosures
  2. Disaggregation of revenue
  3. Contract balances
  4. Performance obligations
  5. Transaction price allocated to remaining performance obligations
  6. Determining the timing of satisfaction of performance obligations
  7. Determining the transaction price and the amounts allocated to performance obligations

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Contact

Sue Menditto

Senior Director, Accounting Policy

202.861.2542


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