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Webinar (CA): Revenue: The Five Steps—Topic 606-10

Description

This course, the first in a three-course series, concentrates on the Five Steps approach as covered in ASC 606, Revenue from Contracts with Customers. With several FASB ASUpdates, ASC 606, Revenue from Contracts with Customers, public companies were required to implement after Dec. 15, 2017, and privately held companies and private nonprofits after Dec. 15, 2019. Now effective for most entities, it’s time to review the topic and recent updates.

Learning Objectives

• Outline the Five Steps to revenue recognition under ASC 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 606
• Revenue from Contracts with Customers and All recently released updates to ASC 606
• Revenue from Contracts with Customers

Provider
California CPA Education Foundation
Course Level
Overview
CPE Field of Study
Accounting
2
Who Should Attend

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

Instructor(s)
Bobbe Barnes
Prerequisites

None

Advanced Preparation

This webinar is produced by AICPA. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.

Location
Webinar
Event Information
When
Aug 16, 2021
12:00 pm - 2:00 pm MDT
Location
Webinar
Total CPE Credits
2
Format
Webinar

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Webinar (CA): Revenue: The Five Steps—Topic 606-10


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