
Interpreting the FASB Revenue Recognition Standard: What All CPAs Need to Know
Well-defined revenue recognition guidelines, insights and practical management tips designed to address the complexities of FASB ASC 606.
Format
Webcast
NASBA Field of Study
Accounting
Level
Intermediate
CPE Credits
4
Instructor
Renee Rampulla
Availability
Product Number
VCL4INRR250924
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:
- Identifying a customer contract
- Determining performance obligations
- Establishing a transaction price
- Allocating the transaction price
- Recognizing revenue
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
Key Topics
- Revenue recognition overview
- Identifying the contract with a customer and performance obligations
- Transaction price
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 FASB ASC 340-40.
- Identify financial accounting and reporting requirements.
Who Will Benefit
Accountants in public practice, industry and academia who need an update on the latest revenue recognition guidance
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 order6+ registrants
We can help with group discounts. Email client.support@aicpa-cima.com
US customers call 1-800-634-6780 (option 1)
The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association's website, educational materials, products, and services.The Association is committed to making professional learning accessible to all product users. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. As part of this commitment, this product is closed-captioned. For additional accommodation requests please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.