Description
This course provides an overview of the similarities and key differences between the revenue recognition standards issued by the FASB (ASC Topic 606) and the IASB (IFRS 15). While these standards are materially similar as the regulators worked jointly to issue the new converged standards, there are notable differences that are good to understand. However, this course is not intended to provide an exhaustive discussion of these differences.
Type = Download
Type = Download
Designed For
Accounting professionals
Objectives
- List the key steps in the revenue recognition model
- Recognize the applicable U.S. GAAP and IFRS standard with respect to revenue recognition
- Identify some of the key differences between ASC Topic 606 and IFRS 15
Highlights
- Key principles of Revenue Recognition
- Performance obligations in the Contract
- Noncash considerations
- Presentation of sales taxes
- Impairment reversal of capitalized contract costs
- Interim disclosures
Advanced Prep
None