Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know

Overview

The effective date of FASB ASC 606, Revenue from Contracts with Customers is upon us (bold)

Do you know which contracts are within the scope of the standard and when revenue should be recognized?

This webcast addresses the requirements of FASB ASC 606’s five-step process for recognizing revenue:

1. Identifying a contract with a customer
   
2. Determining the performance obligations
   
3. Determining a transaction price
   
4. Allocating a transaction price
   
5. Recognizing revenue
6. Speaker - Renee Rampulla

Highlights

• Apply principles of FASB ASC 606
• Determine requirements for identifying a contract under FASB ASC 606
• Apply performance obligations under FASB ASC 606
• Determine requirements for determining a transaction price under FASB ASC 606
• Determine requirements for allocating a transaction price under FASB ASC 606

Prerequisites

Experience in the application of accounting standards

Designed For

Accountants and finance professionals in public practice, industry and academia

Objectives