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Course Details:

Program Name
Revenue Recognition - Understanding the Basics (ASC 605 and ASC 605 - 25), Part 1
Program ID
6141
Credits
2
Field of Study
Accounting -- 2 Credits
Price
$79.00
Instructor(s)
Description
Revenue recognition is one of today's most critical and difficult reporting area both for accountants and standard setters. In this two-part course we will cover the multiple pieces of authoritative literature, including ASC 605 and ASC 605 - 25 (SAB 101 and SAB 104). Gaps in guidance mean challenges are ongoing. Begin your examination of revenue recognition by gaining a valuable familiarity with GAAP requirements, and learn how to recognize revenue from services, products and multiple element arrangements.

Learning Objectives:
In this first of Becker's two-part series on Revenue Recognition you will examine relevant examples, insightful Q&A's that address significant and contemporary issues, and a practical recognition checklist. You will be well-positioned to transfer classroom learning to real world application. After completing this session you will be able to:

  • Define the four contract criteria that must be met before revenue can be recognized under ASC 605 (SAB 104)
  • Apply the requirements to meet the "persuasive evidence of an arrangement" criterion
  • Name the requirements to meet the "delivery has occurred or services have been rendered" criterion and apply these concepts via illustrative examples
  • Define Risk & Rewards, Acceptance Clauses, Unfulfilled Obligations/Upfront Fees, and Consignment/Demonstration and Bill & Hold Arrangements
  • Delivery Method:
    Self-study

    View course demo >>

    Program Level:
    Basic

    Final Examination:
    To receive CPE credit, NASBA requires that the final Examination be successfully completed within one year from the date of purchase.

    Learning Objectives
    See description.
    Prerequisites
    None
    Advanced Preparation
    None
    Course Level
    Basic
    Delivery Method
    Self-Study
    Major Topics
    None
    Publication/Revision Date
    Tuesday, November 26, 2013
    Expiration
    11/30/2014
    Enrollment close
    Final Exam Grading Policy
    To pass this Self Study you must meet or exceed the minimum passing score on the final exam within the allowable attempts. Final Exam passing score: 70% Final Exam allowed attempts: unlimited
    Content Partner
    Becker Professional Education
    Sponsor
    Becker Professional Education
    QAS ID
    QAS073
    Practice Areas
    -