Revenue Recognition – Mastering the 5 Steps of ASC 606 ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
This course provides an overview of the revenue recognition principles under ASC 606. This course focuses specifically on the five-step model for recognizing revenue, including identifying contracts, measuring transaction prices, and allocating those prices to performance obligations.
Highlights
Identify the contract with a customer. Identify the performance obligations in the contract. Determine the transaction price. Allocate transaction price to performance obligations. Recognize revenue when performance obligations are satisfied.
Prerequisites
None.
Designed For
CPAs, CEOs, CFPs, and other accounting professionals.
Objectives
List the five steps involved in the revenue recognition model. Recognize the considerations involved in identifying whether a contract exists. Identify the considerations involved with measuring the transaction price. Recognize the steps involved in allocating the transaction price to performance obligations.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Kelen Camehl, Western CPE
Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”.
Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX. Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
Non-Member Price $67.00
Member Price $58.00