2016-10, which helps to explain the intent of the Financial Accounting Standards Board ("FASB" or the "Board") with respect to application of the ‘separately identifiable’ principle in paragraph 606-10-25-21.
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Therefore, when evaluating the accounting question, we considered all the guidance on distinct goods or services in ASC 606 (i.e., the guidance in paragraphs 606-10-25-19 through 25-22 and the relevant examples in ASC section 606-10-55), as well as the discussion in the Basis for Conclusions ("BC") to Accounting Standards Update ("ASU") No.
ASC 606 provides industry-agnostic revenue recognition guidance and examples that do not speak explicitly to situations in which entities provide software-based solutions that include the customer downloading some of the entity’s software for use on desktop and mobile devices and accessing other software and features/functionality only in the cloud (i.e., only on a hosted basis, without the right to take possession of the underlying software code).
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