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FUS870 – Implementing the New Revenue Standard – ASC 606

Course and Test $ 125.00
Course and Test PDF $ 100.00
Additional Hard Copy Test $  24.00
Additional Online Test $  24.00
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SKU: FUS870 Category:

CPE Credit Hours:  8NASBA Color logo-1 inch

Field of Study: Accounting

Publication date: January 2021

 

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 are required to implement the standard starting in 2019 and 2020.

Topics include and 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.

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This is a self-study CPE course.
Program level: Overview
Prerequisites: Basic 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