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A company must account for a contract modification as a new contract if Goods or services are distinct and the company has the right to
A company must account for a contract modification as a new contract if
| Goods or services are distinct and the company has the right to receive the standalone price. |
| Goods or services are interdependent on each other. |
| The company has the right to receive consideration equal to the standalone price. |
| The promised goods or services are distinct. |
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Intermediate Accounting
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
1st edition
978-0133251579, 133251578, 013216230X, 978-0134102313, 134102312, 978-0132162302
