The Decision-Usefulness of ASC 606 Revenue Disaggregation
研究了ASC 606收入分解披露要求对财务报告决策有用性的影响，发现分解披露提高了分析师销售预测准确性并降低了预测分歧，尤其当伴随详细定性披露、收入可比性高或分部信息粒度低时。
ABSTRACT The disclosure requirements of ASC 606 significantly expanded the volume and granularity of revenue information. However, because of the significant judgment associated with the standard, it is unclear whether the new disclosures increased the decision-usefulness of financial reports. To shed light on this question, we investigate the revenue disaggregation requirements of ASC 606. These requirements had significant disclosure consequences, illustrated by an over two-fold increase in the median number of revenue items in disaggregating firms’ reports. Consistent with enhanced decision-usefulness, we find higher (lower) analyst sales forecast accuracy (dispersion) for disaggregating firms. These benefits are primarily present when disaggregation is accompanied by detailed qualitative disclosures, when disaggregated revenues are comparable, and when the granularity of segment information is low. Our study contributes to research evaluating ASC 606 and offers valuable insights to standard-setters currently considering broader disaggregation of income statement items (Financial Accounting Standards Board (FASB) 2022). Data Availability: Data are available from the sources identified in the paper. JEL Classifications: G24; G30; G34.