Course

Revenue Recognition: Identifying the Contract & Performance Obligations

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Event Details

Thursday, August 25, 2022

12:30pm – 2:10pm
(Registration: 12:00pm)

Location

Hilton Garden Inn

2465 Grant Rd

Billings, MT 59102

406-655-8800

Field of Study

  • Accounting

CPE Credit

2 hours CPE credit

Course Code

CL2CPO-13

Instructor

Level of Knowledge

Intermediate

Vendor

AICPA

Prerequisites

Experience in the application of accounting standards.

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.

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