Author : | Kelen Camehl, CPA, MBA |
Course Length : | Pages: 90 ||| Word Count: 48,500 ||| Review Questions: 33 ||| Final Exam Questions: 40 |
CPE Credits : | 8.0 |
IRS Credits : | 0 |
Price : | $71.95 |
Passing Score : | 70% |
Course Type: | NASBA QAS - Text - NASBA Registry |
Technical Designation: | Technical |
Primary Subject-Field Of Study: | Accounting - Accounting for Course Id 2201 |
Description : | This course provides a detailed overview of the key principles and requirements with respect to revenue recognition and leasing transactions. Both of these areas witnessed substantial changes made in years past by the FASB. This revenue recognition and leasing course takes a quick trip down memory lane to explore how both of these standards evolved and then takes the user down a detailed path of understanding the key financial reporting requirements of each. |
Usage Rank : | 32500 |
Release : | 2023 |
Version : | 1.0 |
Prerequisites : | None. |
Experience Level : | Overview |
Additional Contents : | Complete, no additional material needed. |
Additional Links : |
Revenue Recognition
|
Advance Preparation : | None. |
Delivery Method : | QAS Self Study |
Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
Revision Date : | 11-Dec-2023 |
NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
Approved Audience : | NASBA QAS - Text - NASBA Registry - 2201 |
Keywords : | Accounting, Deep, Dive, Revenue, Recognition, Leasing, cpe, cpa, online course |
Learning Objectives : |
Chapter 1
Chapter 2
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Course Contents : | Chapter 1 - Revenue Recognition Chapter Learning Objectives How Did We Get Here? Why the Change in the Revenue Recognition Standards How the Revenue Recognition Standard Evolved Scope of the Revenue Recognition Standards Key Provisions Review Questions Step 1: Identify the Contract(s) with a Customer Step 2: Identify the Performance Obligations in the Contract Review Questions Step 3: Determine the Transaction Price Step 4: Allocate Transaction Price to Performance Obligations Review Questions Step 5: Recognize Revenue When (or as) the Entity Satisfies a Performance Obligation Financial Statement Presentation Issues Disclosure Requirements Transition Guidance Review Questions Subsequent ASC 606 Amendments Review Questions Chapter 2 - Leasing Transactions Chapter Learning Objectives Introduction What Drove the Change? The Final Revised Standard Standards Organization Review Questions Is an Arrangement a Lease? Illustrative Examples – Determining Whether a Contract Contains a Lease Lessee Lease Classification Review Questions Recognition and Measurement Subsequent Measurement Illustrative Example – Lessee Accounting Lessor Accounting Review Questions Lease Modifications Lease Modifications – Illustrative Examples Sale and Leaseback Transactions Sale and Leaseback – Illustrative Examples Review Questions Assets under Construction Presentation Requirements Disclosure Requirements Review Questions Transition Requirements IFRS Differences Private Company Considerations Subsequent ASC 842 Amendments Review Questions Glossary of Key Terms |