Update published on June 5, 2020: FASB issued Accounting Standards Update (ASU) 2020-05, Revenue from Contracts with Customers (ASC 606) and Leases (ASC 842) Effective Dates for Certain Entities, as part of its efforts to support and assist stakeholders as they cope with the many challenges and hardships related to the COVID-19 pandemic.

Welcome to our video series on the new revenue recognition standard. This video, Revenue Recognition (ASC 606) for Healthcare Entities, highlights the key implementation considerations related to revenue recognition under Topic 606 for Healthcare organizations.

If you haven’t already viewed the video, A Conversation on Revenue Cycle (ASC 606), we recommend doing so to get a broad understanding of the key considerations under each of the five steps.