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Revenue Recognition - U.S. GAAP vs. IFRS (RRGI)

  • Format Self-Study Download
  • Credits 1.00
  • Level Basic
  • Field of Study Accounting (1)

Overview

This course provides an overview of the similarities and key differences between the revenue recognition standards issued by the FASB (ASC Topic 606) and the IASB (IFRS 15). While these standards are materially similar as the regulators worked jointly to issue the new converged standards, there are notable differences that are good to understand. However, this course is not intended to provide an exhaustive discussion of these differences.



Major Topics:

  • Key principles of Revenue Recognition
  • Performance obligations in the Contract
  • Noncash considerations
  • Presentation of sales taxes
  • Impairment reversal of capitalized contract costs
  • Interim disclosures

Learning Objectives:

  • List the key steps in the revenue recognition model
  • Recognize the applicable U.S. GAAP and IFRS standard with respect to revenue recognition
  • Identify some of the key differences between ASC Topic 606 and IFRS 15

Who should take this course:

Accounting professionals

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QAS Approval Surgent
IRS Approval Surgent
CFP Approval Surgent
CTEC Approval Surgent
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