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| Author : | Kelen Camehl, CPA, MBA |
| Course Length : | Pages: 11 ||| Review Questions: 3 ||| Final Exam Questions: 5 |
| CPE Credits : | 1.0 |
| IRS Credits : | 0 |
| Price : | $12.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - Technical - NASBA Registry |
| Primary Subject-Field Of Study: | Accounting - Accounting for Course Id 1928 |
| Description : | This course provides an overview of the first step in the revenue recognition process – the identification of a contract with a customer. This includes a discussion of key definitions and considerations along with the detailed accounting guidance from ASC Topic 606. This course incorporates excerpts from the FASB’s basis for conclusions of the new revenue recognition standard as well as key excerpts from Big 4 revenue recognition guides in order to develop a comprehensive understanding of this step in the process. |
| Usage Rank : | 0 |
| Release : | 2021 |
| Version : | 1.0 |
| Prerequisites : | None. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Revenue Recognition
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 13-Dec-2021 |
| 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 - Technical - NASBA Registry - 1928 |
| Keywords : | Accounting, Revenue, Recognition, Contract, Assessment, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives
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| Course Contents : | Chapter 1 - Revenue Recognition - Contract Assessment Course Learning Objectives Course Overview Background Changes Needed to Revenue Recognition The Main Provisions The Contract Review Questions Approval of the Contract / Commitment to Performance Identification of Each Party’s Rights Identification of Payment Terms Commercial Substance Probability of Collection of Substantially all of the Contract Consideration Contract Criteria Is Not Met Combining Contracts Contract Modifications Review Questions Glossary of Key Terms |
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