Revenue Recognition Fundamentals (UPDATED!)

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.


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.

8/22/2019 Chicago
CPE Credit:
$1,395 **

Venue and Hotel Details


  • 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

Program Details

Prerequisite:   Knowledge of Basic Accounting
Preparation:   None
Level of Knowledge:   Intermediate
Field of Study:   Accounting
Delivery Method:   Group Live, Instructor-Led Course

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!

* Discounts cannot be combined and must be applied at time of initial registration.

** Tuition price includes daily breakfast, lunch, and morning and afternoon refreshments.

If you have previously attended this course, you may not be eligible for CPE credits. Please contact KPMG Executive Education to confirm your eligibility.