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An entity should combine two or more contracts if the contracts were entered into at or near the same time with the same customer or related parties of the customer, if at least one of the following applies:

 The contracts are negotiated as a package with a single commercial objective.

 The amount of consideration in one contract depends on the price or performance of the other contract.

 The goods or services are a single performance obligation.

Although not all inclusive, the following are some examples of when an entity should possibly consider combining separate contract with the same customer, keeping in mind that judgment is required because additional facts or different circumstances could result in a different conclusion.

 Entities that provide engineering and construction services in separate contracts with the same customer, whose contracts are issued at or near the same time, may need to combine these separate contracts if the two contracts are for the design and building of a single capital asset and would be deemed a single performance obligation had they been in a single contract; therefore, these contracts should likely should be combined.

 Educational institutions will need to determine if tuition and housing (or any other contracts entered into with the student) are contracted together in a single contract or in separate contracts. If entered into at or near the same time with the same student, specifically, if the contracts are negotiated as a package with a single commercial objective, the amount of consideration to be paid in one contract depends on the price or performance of the other contract, or if the services promised in the contracts are a single performance obligation, then the educational institution would combine the contracts. When making the determination of whether to combine contracts for tuition and housing, the educational institution would need to consider whether a discount (for example, financial aid) has been provided in a bundled arrangement. If the single commercial objective criterion has not been met, then the educational institution would treat the contracts as separate contracts and apply the guidance in FASB ASC 606 to each separate contract.