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    jsantelli's Avatar
    jsantelli Posts: 2, Reputation: 1
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    #1

    Jun 21, 2017, 01:39 PM
    Synthetic FOB Destination Point under new ASC 606
    Scenario: If a company follows a Synthetic FOB Destination Point policy for recognizing revenue (Online purchases), then under the current revenue recognition system they would recognize the revenue upon destination. Under ASC 606, the new revenue recognition method, can you put up an argument that you can recognize the revenue at shipment? Any information would be helpful as I have done much research on this specific topic but have not been able to find a distinct answer.
    smoothy's Avatar
    smoothy Posts: 25,492, Reputation: 2853
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    #2

    Jun 21, 2017, 03:16 PM
    What do you believe it is and why?
    jsantelli's Avatar
    jsantelli Posts: 2, Reputation: 1
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    #3

    Jun 22, 2017, 10:45 AM
    I am not sure but it seems that going by the 5 steps of revenue recognition, it seems to balance out. "Acceptance of the asset" does not apply because it is not a specific, extraordinary asset. It is just regular online sales. The other 4 steps seems to balance out whether the control transfers at shipping or delivery.Please advise.
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