The third installment of Accounting for Stuff With Tim Gearty is here. For round 3, TG tackles the transaction price within the new revenue recognition rules. You can check out Parts I and II if you’ve been under a rock at the bottom of the ocean.
Now, you might think you already know everything there is to know about transaction prices under the new revenue recognition rules. And, hey, you just might. But you don’t know them the way Tim Gearty does, and you sure don’t spit out mnemonics like it’s your job. It is Tim Gearty’s job. Literally. We’ve seen his contract, and the mnemonics clause runs three pages.
Get down on this revenue recognition wisdom. It will make you a better accountant.
Tim Gearty will return in Part IV of this series in the coming weeks. Subscribe to our YouTube channel to be the first to receive updates.