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Revenue Recognition: Mastering FASB Requirements
Accounting & Financial Reporting
CPE Self-study

Revenue Recognition: Mastering FASB Requirements

Well-defined revenue recognition guidelines, insights, and practical management tips designed to address the complexities of FASB ASC 606.

$155 - $189
Do you have an AICPA or CIMA membership? Log in to apply your member discount.

Format

Online

NASBA Field of Study

Accounting

Level

Intermediate

CPE Credits

8.5

Author(s)

Renee Rampulla

Availability

1 year

Product Number

INRR25SSO

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 Business & partner 
Product Details

Mastering revenue recognition

It's crucial to know the key principles of revenue recognition to recognize revenue effectively. You'll gain an understanding of these key principles by exploring the five-step revenue recognition process. You’ll learn more about each of the following steps:

  • Identifying a customer contract
  • Determining performance obligations
  • Establishing a transaction price
  • Allocating the transaction price
  • Recognizing revenue

Navigating complex revenue scenarios with ease

You’ll improve the revenue recognition process by examining the specifics of revenue recognition under the FASB ASC 606 standard using various tactics. Additionally, you’ll ground your understanding with the following:

  • Practical examples
  • Updated industry-specific samples
  • Disclosure illustrations

Fulfilling performance obligations

Enhancing financial acumen through practical management strategies and real-world examples can significantly improve your organization's ability to excel in revenue recognition practices. You’ll cover several aspects of performance obligations, including:

  • Identifying distinct goods and services
  • Implications of promised goods
  • Complexities associated with shipping and handling activities

Who Will Benefit

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

Key Topics

  • Five-step process for recognizing revenue
  • Transaction price requirements
  • Disclosure requirements
  • Performance obligations
  • Variable considerations
  • Contract requirements
  • Scope exceptions
  • Collectibility

Learning Outcomes

  • Identify principles and requirements of revenue recognition.
  • Identify requirements for identifying a contract with a customer.
  • Determine performance obligations.
  • Identify requirements for determining and allocating a transaction price.
  • Identify special considerations for implementing FASB ASC 606 and ASC 340-40.
  • Identify financial accounting and reporting requirements.
Credit Info
CPE Credits
Online
8.5
NASBA Field of Study
Accounting
Level
Intermediate
Prerequisites
Experience in the application of accounting standards
Access
Online
This is a digital product. With full paid access the content will be available to you for 1 year after purchase date.
For more information, please refer to CPE requirements and NASBA sponsorship information
Pricing
Do you have an AICPA or CIMA membership? Log in to apply your member discount.
Nonmembers
Online
$189.00
AICPA Members
Online
$155.00
CIMA Members
Online
$155.00

Group ordering for your team

2 to 5 registrants

Save time with our group order form. We’ll send a consolidated invoice to keep your learning expenses organized.

Start order

6+ registrants

We can help with group discounts. Email client.support@aicpa-cima.com
US customers call 1-800-634-6780 (option 1)

Contact us
Author(s)
Renee Rampulla
CPA
Renee Rampulla CPA CGMA is the managing member and founder of Rampulla Advisory Services, LLC, with over 30 years of experience in accounting, auditing, and professional ethics. She is a national standard-setter serving on the American Institute of Certified Public Accountants (AICPA) Auditing Standards Board. She is a frequently requested and nationally recognized speaker, a five-time recipient of the AICPA’s Outstanding Instructor Award, a recipient of the 2016 New Jersey Society of CPAs “Women of Note” and received the “Samuel A. Dyckman, Excellence in Education Award” from the National Conference of CPA Practitioners. Renee has taught over 1,200 continuing professional education (CPE) courses. She is the author of several accounting and auditing publications and continuing professional education courses for the AICPA, various State Societies, numerous accounting firms, and organizations. Renee writes and lectures on technical accounting, auditing, and professional ethical issues. She has experience in the auditing of public and privately held entities ranging from the manufacturing and service sectors to financial services. Renee was a partner in a regional accounting firm in the northeast in charge of the firm’s accounting and auditing practice and their quality control group. By devoting several years of her career to both regional and Big Four accounting firms Renee accumulated a wealth of technical and practical knowledge. In addition, while working for the AICPA, she performed professional ethics investigations; collaborated closely with senior technical committees; presented technical guidance before standard setters; and authored and updated several AICPA publications. Renee has served as a member of the AICPA council and the AICPA’s Ethics Enforcement Committee. She is a past Vice President of Professional Issues for the New York State Society of CPAs (NYCPA), a past member of the NYCPA Executive Committee and former NYCPA Director at Large board member. She has also chaired the NYCPA’s Professional Ethics and Nominating Committees and is the Past President of the NYCPA’s Staten Island Chapter. She has served in several other leadership positions for the NYCPA and continues to serve on many NYCPA committees. Renee has also served in leadership roles with the New Jersey Society of CPA (NJCPA) such as Chair and Vice-chair of the NJCPA Accounting and Auditing Standards Interest Group; Co-Chair of the NJCPA Accounting Standards and IFRS sub-committees and as a member of the NJCPA Audit and Professional Conduct committees. For several years Renee was an adjunct lecturer at Hunter College, a City University of New York City, teaching various undergraduate accounting, auditing, and research courses.
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