Now that you’ve been introduced to the 5-step model within ASC 606, Revenue from Contracts with Customers, it’s time to take your learning to the next level! In this CPE-eligible, eLearning course (1.0 CPE), we dive into step 3, determining the transaction price. The essence of step 3 is to determine the amount an entity expects to be entitled to for satisfying the performance obligations in revenue contracts with customers. The transaction price may include fixed amounts set forth in the contract, variable amounts, or both! It might also include adjustments for significant financing arrangements (i.e., time value of money) or the fair value of non-cash consideration. We cover these considerations and more when determining the transaction price using examples in this interactive and entertaining online course!