Since ASC 606,Revenue from Contracts with Customers, is now effective for most entities, a review of the Topic and recent updates is warranted.Attendees will gain an understanding of ASC 606 and updates. We’ll review examples to illustrate key concepts. Additionally, a selection of public companies’ revenue disclosures will be included.
With the issuance of a final standard;ASC 606, Revenue from Contracts with Customers;public companies were required to implement after Dec. 15, 2017, and nonpublic companies, Dec. 15, 2018.
Formerly titled: Revenue: Past, Present and Future
Identify how to report the treatment of revenue from contracts with customers (ASC 606), with examples drawn from the illustrative guide.
Identify recently released updates to ASC 606.
Recognize the disclosure and transition requirements.
Review a selection of public companies’ revenue disclosures.
FASB ASC 606, Revenue from Contracts with Customers
ASC 340-40, Other Assets and Deferred Costs
All recently released updates to ASC 606, Revenue from Contracts with Customers
CPAs, auditors, consultants, and financial and management professionals.
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