Revenue Recognition Deep Dive – Unlocking the Key Principles of ASC 606 ON DEMAND
Available Until
Your Desk
4.0 Credits
Member Price $116.00
Non-Member Price $133.00
Overview
This course provides a comprehensive overview of the revenue recognition principles under ASC 606. This course covers the five-step model for recognizing revenue, which includes identifying contracts, measuring transaction prices, and allocating those prices to performance obligations. Participants will gain an understanding of key considerations, such as when a contract exists and how to measure the transaction price accurately. Our course also explores the presentation of contract assets and liabilities, along with the required disclosures.
Highlights
Scope of ASC 606. The main provisions. Principal vs. agent considerations. Financial statement presentation issues. Financial statement disclosures. Revenue recognition challenges.
Prerequisites
None.
Designed For
CPAs, CEOs, CFPs, and other financial managers.
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. Identify presentation issues with respect to contract assets and contract liabilities. Understand the overall disclosure requirements. Recognize top challenges companies face when recording revenue.
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 $133.00
Member Price $116.00