Customer Service: 800-778-7436     

To access your product click the Log In link at the top right of the screen. Once inside your account, you will be able to access your Packages, Self-Study Product, and Webinar Registrations.

Sign In to Your Surgent Account

Forgot Username or Password | Register for an Account

Revenue Recognition - Top Challenges in Applying ASC 606 (RRTC)

  • Format Self-Study Download
  • Credits 8.00
  • Level
  • Field of Study Accounting (8)

Overview

This course provides an overview of critical challenges companies encounter under ASC 606, emphasizing several key areas that can be particularly challenging for effective revenue recognition. This includes identifying valid contracts, determining performance obligations, assessing variable consideration, and distinguishing between recognizing revenue over time versus at a point in time. The course also covers principal versus agent considerations, accounting for contract modifications, licensing arrangements, and disclosure requirements.



Major Topics:

  • Types of performance obligations
  • Bundled offerings
  • Customizations
  • Modifications to product specifications
  • Requests for additional services
  • Alterations in delivery timelines
  • Long-term contracts
  • Enforceability and payment terms

Learning Objectives:

  • Identify the criteria for contract validity under ASC 606
  • Recognize complexities in multiple contracts with the same customer
  • Determine the effects of contract modifications on revenue recognition
  • Differentiate between contract cancellations and terminations
  • Recognize the criteria for determining if goods or services are separately identifiable
  • Determine the impact of customization on performance obligations in contracts
  • Identify different types of variable payments in contracts, including discounts, rebates, and bonuses

Who should take this course:

Accountants interested in Revenue Recognition and ASC 606

None

None

No

No

No

QAS Approval Surgent
IRS Approval Surgent
CFP Approval Surgent
CTEC Approval Surgent
CPE Webinars
CPE Webinars

Thank You!

Thank You! Your subscription has been submitted.