Purchase Course

Revenue Recognition Fundamentals   

8

Estimated CPE
Tuition
$1,395.00
Course Number
19-IL-351-EE
Hotel / Venue Details
View Details
8

Estimated CPE
Tuition
$1,395.00
Course Number
19-IL-351-EE
Hotel / Venue Details
View Details

Special Discounts

In conjunction with your registration, participants will automatically be enrolled into Revenue from Contracts with Customers – Overview. The completion of this complimentary, CPE-eligible self-study will allow for all participants to attend the course with equivalent advance knowledge.

In addition, registrants of Revenue Recognition Fundamentals will receive a 50% discount on the remaining courses within the Revenue from Contracts with Customers web-based training series. Instructions for redeeming this offer will be provided in the registration confirmation email that you will receive upon registering for the course.

Course Details

ASC Topic 606 / IFRS 15, Revenue from Contracts with Customers, has significantly impacted many companies upon adoption. A single 5-step model for all transactions and all industries! Whether you report under U.S. GAAP or IFRS, this 1-day course, provides you with the necessary information to gain a fundamental understanding of how and when revenue is to be recognized. Discussion-based scenarios and other group activities highlight significant challenges and application issues requiring consideration by companies applying the standard.

Topics Covered Include:

  • Overview of the New Standard
    • Core principal and 5-step model
    • Scope
    • Effective dates
    • Industry impacts
  • Walkthrough of the 5-step Model
    • Step 1: Identify the contract with a customer
    • Step 2: Identify the performance obligations in the contract
    • Step 3: Determine the transaction price
    • Step 4: Allocate the transaction price to the performance obligations in the contract
    • Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation
  • Other Issues and Considerations
    • Contract modifications
    • Material rights
    • Principal vs. agent considerations
    • Contract costs
    • Licensing arrangements
    • And more...
  • Disclosures
    • Learning from initial adopters
    • Disclosure requirements, including non-public entity elections

Course Leaders
GAAP Dynamics, a training firm that provides tailored and engaging learning solutions to companies and accounting firms worldwide. Their passion for making accounting understandable and their extensive industry knowledge combine to create a uniquely effective learning experience. They make accounting fun!

Keywords:Revenue, revenue recognition, ASC 606, 5 Step Model, Performance Obligations, contracts with customers, IFRS 15, recognizing revenue, rev rec

Other Details

Special Notice/Instruction:
NASBA Delivery Method: Group Live
Prerequisite: Knowledge of Basic Accounting
Preparation: None
Level of Knowledge: Intermediate
Field of Study: Accounting
Delivery Method: Seminar
New York, New York
12/06/2019
ASC Topic 606 / IFRS 15, Revenue from Contracts with Customers, has significantly impacted many companies upon adoption. A single 5-step model for all transactions and all industries! Whether you report under U.S. GAAP or IFRS, this 1-day course, provides you with the necessary information to gain a fundamental understanding of how and when revenue is to be recognized. Discussion-based scenarios and other group activities highlight significant challenges and application issues requiring consideration by companies applying the standard.

Topics Covered Include:

  • Overview of the New Standard
    • Core principal and 5-step model
    • Scope
    • Effective dates
    • Industry impacts
  • Walkthrough of the 5-step Model
    • Step 1: Identify the contract with a customer
    • Step 2: Identify the performance obligations in the contract
    • Step 3: Determine the transaction price
    • Step 4: Allocate the transaction price to the performance obligations in the contract
    • Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation
  • Other Issues and Considerations
    • Contract modifications
    • Material rights
    • Principal vs. agent considerations
    • Contract costs
    • Licensing arrangements
    • And more...
  • Disclosures
    • Learning from initial adopters
    • Disclosure requirements, including non-public entity elections

Course Leaders
GAAP Dynamics, a training firm that provides tailored and engaging learning solutions to companies and accounting firms worldwide. Their passion for making accounting understandable and their extensive industry knowledge combine to create a uniquely effective learning experience. They make accounting fun!

Keywords:Revenue, revenue recognition, ASC 606, 5 Step Model, Performance Obligations, contracts with customers, IFRS 15, recognizing revenue, rev rec

Special Notice/Instruction:
NASBA Delivery Method: Group Live
Prerequisite: Knowledge of Basic Accounting
Preparation: None
Level of Knowledge: Intermediate
Field of Study: Accounting
Delivery Method: Seminar

Seminar Brochure

Click to view, download, print
Locations / Dates


New York, New York
12/06/2019


Seminar Brochure

Click to view, download, print