Description
Learn the five-step revenue recognition process in ASC 606 through real-world examples that illustrate the impact on revenue recognition practices.
Presenters - Summer M. Taylor
Designed For
Designed For: CPAs, auditors and financial professionals.
Role Level - Entry-level/Individual contributor; Manager/Senior Manager; Director; Sole Practitioner
Objectives
- Recognize the scope of ASC 606
- Identify critical terms and definitions under ASC 606
- Determine the impact of ASC 606 on reporting entities
Highlights
- Five-step process to recognize revenue under ASC 606
- Step 1: Identify the contract
- Step 2: Identify the performance obligations
- Step 3: Determine the transaction price
- Step 4: Allocate the transaction price
- Step 5: Recognize revenue
Advanced Prep
None
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Leaders
CALCPE Panel
No Biography Available