CPE Credit Hours: 8
Field of Study: Accounting
Publication date: January 2023
The objective of this course is to address the new revenue standard in ASC 606, Revenue from Contracts with Customers, and its related updates, and provide guidance to nonpublic (private) entities who implemented the standard in 2020 and are continuing to experience post-implementation issues.
Topics include an overview of the new standard and its core principle, an analysis of each of the five steps required in the revenue model, selected issues encompassing principal versus agent considerations, dealing with warranties, bill-and-hold arrangements, and consignment transaction. The course also addresses how to account for contract costs, financial statement presentation of revenue-related accounts, disclosures, and transition methods and guidance.
This is a self-study CPE course.
Program level: Overview
Prerequisites: General understanding of U.S. GAAP
Advanced Preparation: None Required
Minimum Final Examination Passing Grade: 70%
Maximum Time Allowed To Complete Program: One Year From Date Of Purchase
