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| Author : | Kelen Camehl, CPA, MBA |
| Course Length : | Pages: 51 ||| Word Count: 26,401 ||| Review Questions: 12 ||| Final Exam Questions: 20 |
| CPE Credits : | 4.0 |
| IRS Credits : | 0 |
| Price : | $35.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - NASBA Registry |
| Technical Designation: | Technical |
| Primary Subject-Field Of Study: | Accounting - Accounting for Course Id 2492 |
| Description : |
This course provides a comprehensive overview of the revenue recognition principles under ASC 606. It 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. The course also explores the presentation of contract assets and liabilities, along with the required disclosures. |
| Usage Rank : | 27500 |
| 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 : | 20-Feb-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 - 2492 |
| Keywords : | Revenue, Recognition, Deep, Dive, Unlocking, Key, Principles, ASC, 606 |
| 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 Deep Dive - Unlocking the Key Principles of ASC 606 Course Learning Objectives Course Overview Introduction Scope of ASC 606 The Main Provisions Step 1: Identify the Contract(s) with a Customer Review Questions Step 2: Identify the Performance Obligations in the Contract Step 3: Determine the Transaction Price Step 4: Allocate Transaction Price to Performance Obligations Review Questions Step 5: Recognize Revenue When (or as) Performance Obligations are Satisfied Principal vs. Agent Considerations Financial Statement Presentation Issues Financial Statement Disclosures Revenue Recognition Challenges Conclusion Review Questions Glossary of Key Terms |
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