Revenue Recognition: Mastering the New FASB Requirements
Provider: AICPA
Length: 500 minutes
Accounting
10 CPE Credits
Intermediate
QAS self study
5-step process
Gain deep knowledge about the new major standard FASB ASC 606, Revenue from Contracts with Customers. Explore the details of the following five-step process for recognizing revenue: identifying a contract with a customer; determining the performance obligations; determining a transaction price; allocating a transaction price; and recognizing revenue.
Special considerations
In addition, learn about special considerations such as warranties, licensing, acting as a principal versus an agent, incremental costs of obtaining a contract with a customer, and the extensive disclosure requirements along with a useful summary table. Ground your understanding with practical examples, including industry-specific examples and many disclosure illustrations.
Gain deep knowledge about the new major standard FASB ASC 606, Revenue from Contracts with Customers. Explore the details of the following five-step process for recognizing revenue: identifying a contract with a customer; determining the performance obligations; determining a transaction price; allocating a transaction price; and recognizing revenue.
Special considerations
In addition, learn about special considerations such as warranties, licensing, acting as a principal versus an agent, incremental costs of obtaining a contract with a customer, and the extensive disclosure requirements along with a useful summary table. Ground your understanding with practical examples, including industry-specific examples and many disclosure illustrations.