The effective date of FASB ASC 606, Revenue from Contracts with Customers, is upon us! Do you know which contracts are within the scope of the standard and when revenue should be recognized at a point in time of over time? This course answers those questions by providing a basic understanding of the five-step process for recognizing revenue under FASB ASC 606. Supported by practical examples, this course addresses core principles that all CPAs need to know. Recent updates to this course include the latest guidance from FASB, industry specific examples taken from the AICPA Audit and Accounting Guide Revenue Recognition, as well as disclosure illustrations.
This course is intended to familiarize the learner with the core principles of recognizing revenue from contracts with customers. When you complete this course you will be able to:
- Recognize principles of FASB ASC 606.
- Recognize requirements for identifying a contract under FASB ASC 606.
- Recognize performance obligations under FASB ASC 606.
- Recognize requirements for determining a transaction price under FASB ASC 606.
- Recognize requirements for allocating a transaction price under FASB ASC 606.
- 5-step process for recognizing revenue
- Download PDF manual - view your upcoming events in "My CPE" on website
- Review ISCPA Parking Map - found in your email confirmation
- Lunch provided if also attending The Bottom Line on the New Lease Accounting Requirements on the same day
Online registration is closed. Please contact ISCPA at 208-344-6261 or email email@example.com if you would like to register.
Michael Brand, CPA Johnson, Feigley, Newton & Brand LLP Athens, AL Michael Brand is a partner of Johnson, Feigley, Newton & Brand LLP in Athens, Alabama. He was formerly a partner with Tucker, Scott, Brand & Wates, LLC. Michael is a graduate of the University of North Alabama and has been in public accounting since graduation. Michael has been involved in various aspects of public accounting with an emphasis in accounting and auditing services. His experience involves audits of various for profit, not-for-profit and governmental entities. Additionally, he conducts peer reviews. He currently serves on the Alabama Society of CPA's Peer Review Committee and serves on the AICPA's Joint Trial Board, Quality Control Standards Task Force and was a prior member of the AICPA's Peer Review Board.