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Revenue Recognition Deep Dive - Unlocking the Key Principles of ASC 606
$50$50
Revenue Recognition Deep Dive - Unlocking the Key Principles of ASC 606
Course Description:
This course provides a comprehensive overview of the revenue recognition principles under ASC 606. It covers the five-step model for recognizing revenue, which includes identifying contracts, measuring transaction prices, and allocating those prices to performance obligations. Participants will gain an understanding of key considerations, such as when a contract exists and how to measure the transaction price accurately. The course also explores the presentation of contract assets and liabilities, along with the required disclosures.
Learning Objectives:
Upon successful completion of this course, participants will be able to:
Course Description:
This course provides a comprehensive overview of the revenue recognition principles under ASC 606. It covers the five-step model for recognizing revenue, which includes identifying contracts, measuring transaction prices, and allocating those prices to performance obligations. Participants will gain an understanding of key considerations, such as when a contract exists and how to measure the transaction price accurately. The course also explores the presentation of contract assets and liabilities, along with the required disclosures.
Learning Objectives:
Upon successful completion of this course, participants will be able to:
- List the five steps involved in the revenue recognition model
- Recognize the considerations involved in identifying whether a contract exists
- Identify the considerations involved with measuring the transaction price
- Recognize the steps involved in allocating the transaction price to performance obligations
- Identify presentation issues with respect to contract assets and contract liabilities
- Understand the overall disclosure requirements
- Recognize top challenges companies face when recording revenue
Course Number:
KC102
NASBA Field of Study:
Accounting
Level:
Basic
Author/Instructor:
Kelen F. Camehl, CPA, MBA
Publication Date:
January 2025
CPE Credits:
4
Prerequisites:
None
Advanced Preparation:
None
KC102
NASBA Field of Study:
Accounting
Level:
Basic
Author/Instructor:
Kelen F. Camehl, CPA, MBA
Publication Date:
January 2025
CPE Credits:
4
Prerequisites:
None
Advanced Preparation:
None
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