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Revenue Recognition Handbook (RRHB)

Customer Rating
Field of Study
Accounting
Level
Intermediate
Credits
4
Qualifies For
CPE



Price:  $39.99
The effective date for Topic 606, Revenue from Contracts with Customers, is rapidly approaching. Are you ready? Designed for accounting and auditing practitioners at all levels in both public accounting and business and industry, this course provides a thorough review of the FASB’s comprehensive new revenue recognition guidance found in Topic 606. The course begins with a quick overview of the new guidance from 30,000 feet, before diving into the details of the FASB’s new five-step revenue recognition model. Additional guidance, presentation, and disclosures are also presented in this course. Plenty of examples are used to illustrate the practical application of the ins and outs of the new guidance (including journal entries) to help you better understand and apply the complexities of this completely revamped area of accounting. Additionally, the course discusses the recent Accounting Standard Updates (ASUs) to Topic 606 that provide additional guidance on such issues as licenses, collectibility, and performance obligations. Revenue recognition changes could impact wording in contracts, tax planning strategies, budgets, debt covenant compliance, incentive compensation plans, and more. In other words, this comprehensive change in revenue recognition is so much more than simply understanding the resulting debits and credits in the financial statements. As such, it is imperative that all accounting and auditing practitioners at all levels, in both public accounting and business and industry, begin their review and preparation for implementing Topic 606 NOW.

Additional information

Credits

4

Format

Self-Study Download

Company Code

Self Study

Yellow Book Approved

0

CFP Approved

0

IRS Approved

0

CTEC Approved

0

Field of Study Credits

Accounting (Technical) (4)

Field of Study Department

Accounting (Technical)

Course Version

2019-01

CPE Approved

1

Pre-requistes:

Experience in accounting and auditing

Knowledge Level:

Intermediate

Major Topics:

    • Presentation and disclosure requirements
    • Topic 606, Revenue from Contracts with Customers, including recently issued ASUs impacting Topic 606
    • The FASB's new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance

Learning Objectives:

  • Utilize hands-on examples and illustrations to increase your overall understanding and application of the material
  • Explain the FASB’s new revenue recognition guidance found in Topic 606
  • Describe the FASB's new five-step revenue recognition model
  • Discuss the presentation and disclosure requirements in the new standard

Designed For:

Accounting and auditing practitioners at all levels desiring to understand the FASB’s new revenue recognition guidance
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