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
Registration is closed. Please contact ISCPA at 208-344-6261 or email email@example.com if you have any questions.
Roger A. Cusworth, CPA Retired
Roger A Cusworth, CPA Retired, is a 1984 graduate of Iowa State University with a bachelor's degree in accounting,
Some of the previous jobs include a deputy controller at University Of Colorado, and a controller at Colorado School Of Mines. Roger received a degree from Iowa State University - Ivy College Of Business. In January 1984, roger completed the degree in bachelors at Iowa State University.