Revenue Recognition Topic 606 - Deep Dive
Date: Tuesday, August 19, 2025
Instructor: Lynn Fountain
| Begin Time: |
11:00am Pacific Time
12:00pm Mountain Time
1:00pm Central Time
2:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs |
|
This course provides a detailed overview of the key principles and requirements with respect to revenue recognition. We will review examples for each step as time permits.
Who Should Attend
Controllers, Accountants, Auditors, Finance and Operational Professionals Professionals
Topics Covered
- Overview the revenue recognition standard prescribed by ASC Topic 606
- How the standard today evolved over time and why a change was needed
- Walk through the 5-step process for revenue recognition
- Information and requirements related to financial statement disclosures
Learning Objectives
- Recognize how the new revenue recognition standards were developed between the FASB and IASB
- Discover and list the five steps involved in the new revenue recognition model
- Recognize the considerations involved in identifying whether a contract exists
- Identify the considerations involved with measuring the transaction price
- Recognize the steps involved in allocating the transaction price to performance obligations
- Identify presentation issues with respect to contract assets and contract liabilities
- Explore and understand the overall disclosure requirements and transition methods related to the new standards
- Recognize key amendments from ASUs issued subsequent to the initial release of the new revenue recognition standards
Level
Intermediate
Instructional Method
Group: Internet-based
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
Basic knowledge on Revenue Recognition
Advance Preparation
None
