Modifying a contract? Your revenue recognition may change

We continue our revenue podcast miniseries discussing contract modifications. Contract modifications are accounted for as either a separate contract or as part of the existing contract, depending on the nature of the modification. In this episode, we discuss: 4:47 – An overview of contract modifications 5:57 – Modifications that are accounted for as separate contracts 6:54 – Modifications that are accounted for prospectively 10:08 – Modifications that result in cu...