Скачать или смотреть How to Use AI to Simplify ASC 606 Revenue Recognition (Accounting Hack)

Struggling with ASC 606 Revenue Recognition? 😩
In this video, I’ll show you how to use AI tools like ChatGPT to simplify complex ASC 606 contracts — from identifying performance obligations to determining transaction price and timing of revenue.

You’ll see:
✅ How to upload a customer contract to AI
✅ The exact prompt to analyze ASC 606 step-by-step
✅ How to generate clear, structured summaries for your memo or audit documentation

This is your shortcut to faster, smarter revenue recognition analysis.

Here is the prompt.
Review the uploaded contract and walk through the five-step ASC 606 model.
1. Identify the contract.
2. Identify performance obligations.
3. Determine the transaction price.
4. Allocate the transaction price.
5. Describe when revenue should be recognized.
Quote specific contract sections to support each step.


⚠️ Disclaimer:
AI tools are for informational and educational purposes only. Always verify results with official FASB guidance, your firm’s policies, and professional judgment.