Revenue Recognition

Price: $39.00

CPE Credits: 4.0

Category:

Course Number: AACSBRRV

revenue recognition

Description:

Revenue Recognition describes the five-step process for recognizing revenue related to contracts with customers. The discussion includes the establishment of a contract, the determination of performance obligations, and how to set and allocate prices. The course covers many ancillary topics as well, including the treatment of variable consideration, noncash consideration, price discounts, subsequent price changes, consignments, licensing, repurchase agreements, disclosures, and much more. The course material is based on Revenue from Contracts with Customers, Topic 606, as well as subsequent updates. Table of Contents

Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

Author: Steven Bragg, CPA

Publication: June 2014
Updated: March 2017

Format: PDF
Pages: 71

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  • Identify the evaluation criteria for a contract, the components of the transaction price, and when a contract modification triggers treatment as a new contract.
  • Recognize the accounting treatment pertaining to customer acceptance clauses, rights to acquire additional goods, donations, asset repurchases, and breakage.
  • Recognize the situations under which contract liabilities occur, and when disaggregation is used.
  • Note the methods used to control which third parties are recognized as customers, and to control the use of justification documents for standalone pricing.

Description:

Revenue Recognition describes the five-step process for recognizing revenue related to contracts with customers. The discussion includes the establishment of a contract, the determination of performance obligations, and how to set and allocate prices. The course covers many ancillary topics as well, including the treatment of variable consideration, noncash consideration, price discounts, subsequent price changes, consignments, licensing, repurchase agreements, disclosures, and much more. The course material is based on Revenue from Contracts with Customers, Topic 606, as well as subsequent updates. Table of Contents

Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

Author: Steven Bragg, CPA

Publication: June 2014
Updated: March 2017

Format: PDF
Pages: 71

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  • Identify the evaluation criteria for a contract, the components of the transaction price, and when a contract modification triggers treatment as a new contract.
  • Recognize the accounting treatment pertaining to customer acceptance clauses, rights to acquire additional goods, donations, asset repurchases, and breakage.
  • Recognize the situations under which contract liabilities occur, and when disaggregation is used.
  • Note the methods used to control which third parties are recognized as customers, and to control the use of justification documents for standalone pricing.
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