Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know

Overview

Learn the five-step process for recognizing revenue under FASB ASC 606. Supported with practical examples and disclosure illustrations, this webcast addresses core principles that all CPAs need to know.

The effective date of FASB ASC 606, Revenue from Contracts with Customers is upon us (bold)

Do you know which contracts are within the scope of the standard and when revenue should be recognized?

This webcast addresses the requirements of FASB ASC 606’s five-step process for recognizing revenue:

Identifying a contract with a customer
Determining the performance obligations
Determining a transaction price
Allocating a transaction price
Recognizing revenue
Course Instructor: Renee Rampulla

Highlights

5-step process for recognizing revenue

Prerequisites

Experience in the application of accounting standards

Designed For

Accountants and finance professionals in public practice, industry and academia

Objectives

Apply principles of FASB ASC 606
Determine requirements for identifying a contract under FASB ASC 606
Apply performance obligations under FASB ASC 606
Determine requirements for determining a transaction price under FASB ASC 606
Determine requirements for allocating a transaction price under FASB ASC 606

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by AICPA. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.