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Revenue Recognition - Mastering the 5 Steps of ASC 606 (Course Id 2493)

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Author : Kelen Camehl, CPA, MBA
Course Length : Pages: 31 ||| Word Count: 14,415 ||| Review Questions: 6 ||| Final Exam Questions: 10
CPE Credits : 2.0
IRS Credits : 0
Price : $17.95
Passing Score : 70%
Course Type: NASBA QAS - Text - NASBA Registry
Technical Designation: Technical
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 2493

Accounting, Revenue, Recognition, Mastering, 5Steps, ASC, 606, cpe, cpa, online course
Description :

This course provides an overview of the revenue recognition principles under ASC 606. It focuses specifically on the five-step model for recognizing revenue, including identifying contracts, measuring transaction prices, and allocating those prices to performance obligations.

Usage Rank : 28000
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 : 21-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 - 2493

Keywords : Accounting, Revenue, Recognition, Mastering, 5Steps, ASC, 606, cpe, cpa, online course
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

Course Contents :

Chapter 1 - Revenue Recognition - Mastering the 5 Steps of ASC 606

Course Learning Objectives

Course Overview

Introduction

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

Step 5: Recognize Revenue When (or as) Performance Obligations are Satisfied

Conclusion

Review Questions

Glossary of Key Terms

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