Revenue: The Five Steps-ASC Topic 606-10 2024

Wednesday, November 06, 2024

Webcast or Webinar, Online

1:00 PM - 3:00 PM (opens at 12:30PM) EST

2Credits

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$89.00 Regular Price

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Course Type: Webcast

Course Code: 24/9125370

Level: Overview

Vendor: California CPA Education Foundation

Field of Study: Accounting

Overview:

This course, the first in a three-course series, concentrates on the five-step approach covered in ASC Topic 606, Revenue from Contracts with Customers. Since ASC Topic 606, Revenue from Contracts with Customers has been adopted by most entities, it is time to review the topic, including any recent updates. The course also includes pertinent note disclosures from several publicly traded companies across several industries. Be sure to register for all three parts of this series: Revenue: The Five Steps-Topic 606-10 Revenue: Special Implementation Guide-Topic 606-10-55 Revenue: Miscellaneous Topics

Objectives:

• Outline the Five Steps to revenue recognition under ASC Topic 606-10 • Identify the contract • Determine if the performance obligation is satisfied over time or at a point in time• Explain the concept of variable consideration and calculate the amount of variable consideration, if any • Allocate the transaction price to the performance obligations • Recognize revenue • Review excerpts from a selection of public companies' revenue disclosures

Major Topics:

• FASB ASC Topic 606, Revenue from Contracts with Customers • All recently released updates to FASB ASC Topic 606, Revenue from Contracts with Customers

Major Topics:

• FASB ASC Topic 606, Revenue from Contracts with Customers • All recently released updates to FASB ASC Topic 606, Revenue from Contracts with Customers

Designed For:

CPAs, auditors, consultants, and financial and managerial professionals.

Prerequisites:

None