This course provides a comprehensive overview of the revenue recognition principles under ASC 606. It covers the five-step model for recognizing revenue, which includes identifying contracts, measuring transaction prices, and allocating those prices to performance obligations. Participants will gain an understanding of key considerations, such as when a contract exists and how to measure the transaction price accurately. The course also explores the presentation of contract assets and liabilities, along with the required disclosures.
Course Publication Date:
April 09, 2025
This course is available with
NO ADDITIONAL FEE if you have an active
self study membership or
all access membership or can be purchased for
$40.00!
| Author: | Kelen Camehl |
| Course No: | ACT-REVREG-8055 |
| Recommended CPE: | 4.00 |
| Delivery Method: | QAS Self Study |
| Level of Knowledge: | Overview |
| Prerequisites: | None |
| Advanced Preparation: | None |
| Recommended Field of Study: | Accounting
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Learning Objectives
- List the five steps involved in the revenue recognition model.
- Recognize the considerations involved in identifying whether a contract exists.
- Identify the considerations involved with measuring the transaction price.
- Recognize the steps involved in allocating the transaction price to performance obligations.
- Identify presentation issues with respect to contract assets and contract liabilities.
- Understand the overall disclosure requirements.
- Recognize top challenges companies face when recording revenue.