Course

Description

All materials will be electronic only

This course offers an overview of the principles of revenue recognition under FASB ASC 606, Revenue from Contracts with Customers, and addresses the first two steps of a five-step process for revenue recognition under this new standard. Step 1 deals with identifying a contract, including collectability, reassessment criteria and enforceable rights. Step 2 deals with identifying performance obligations in a contract, including distinct goods or services and combining contracts.

Highlights

• Principles of revenue recognition
• Steps 1 and 2 in the process for revenue recognition, identifying a contract and identifying performance obligations in a contract

Objectives

When you complete this course you will be able to:

• Recognize principles of revenue recognition.
• Recognize requirements for identifying a contract with a customer.
• Recognize performance obligations.

Designed For

Accountants in public practice, industry and academia who need an update on the latest revenue recognition guidance.