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Overview
Our Technical Line highlights key implications of the new revenue standard for automotive entities. This publication has been updated to address issues related to identifying the contract with a customer, recognizing revenue at a point in time or over time and accounting for customer options for additional goods or services, pre-production and tooling activities and consideration payable to a customer. It supplements our Financial reporting developments (FRD) publication, Revenue from contracts with customers (ASC 606), and should be read in conjunction with it.