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Handbook: Service concession arrangements

Handbooks | April 2020

KPMG’s guide provides interpretive guidance, including Q&As and illustrative examples, on the application of ASC 853.

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KPMG’s guide explains the accounting for service concession arrangements under ASC 853 and ASC 606. We provide detailed Q&As, interpretive guidance and examples for common practice issues.

Applicability

ASC 853 and ASC 606                 

  • Operators in service concession arrangements

Relevant dates

  • Effective immediately

Report contents

  • Scope
  • Step 1: Identify the contract with the customer
  • Step 2: Identify the performance obligations
  • Step 3: Determine the transaction price
  • Step 4: Allocate the transaction price
  • Step 5: Recognize revenue
  • Long-lived assets
  • Presentation and disclosure

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Service concession arrangements

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Partner, Dept. of Professional Practice, KPMG US
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Partner, Dept. of Professional Practice, Sustainability, KPMG US
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