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Revenue Recognition Deep Dive - Unlocking the Key Principles of ASC 606 (Course Id 2492)

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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

Revenue, Recognition, Deep, Dive, Unlocking, Key, Principles, ASC, 606
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 :
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:
  • 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

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

Click to go to: Revenue Recognition CPE | Revenue Recognition Courses
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