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| Author : | Kelen Camehl, CPA, MBA |
| Course Length : | Pages: 16 ||| Word Count: 6527 ||| Review Questions: 7 ||| Final Exam Questions: 5 |
| CPE Credits : | 1.0 |
| IRS Credits : | 0 |
| Price : | $12.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - NASBA Registry |
| Technical Designation: | Technical |
| Primary Subject-Field Of Study: | Accounting - Accounting for Course Id 2534 |
| Description : |
This course offers a comprehensive overview of the first step in the revenue recognition process: identifying a contract with a customer. It explores key definitions, important considerations, and the detailed accounting guidance outlined in ASC Topic 606. |
| Usage Rank : | 30000 |
| Release : | 2025 |
| 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 : | 14-Apr-2025 |
| 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 - 2534 |
| Keywords : | Accounting, Revenue, Recognition, Fundamentals, Assessing, Analyzing, Contracts, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives Upon completion of this course, you will be able to:
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| Course Contents : | Chapter 1 - Revenue Recognition Fundamentals - Assessing and Analyzing Contracts Course Learning Objectives Course Overview Introduction ASC 606 5-Step Process The Contract Approval and Commitment Identification of Each Party’s Rights Identification of Payment Terms Review Questions Commercial Substance Probability of Collection of Substantially all of the Contract Consideration Contract Criteria Not Met Combination of Contracts Unit of Account - Portfolio vs. Contract-by-Contract Contract Modifications Conclusion Review Questions Glossary of Key Terms |
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