This course concentrates on the Special Implementation Guide as covered in ASC 606, Revenue from Contracts with Customers. With several FASB AS Updates, ASC 606, Revenue from Contracts with Customers, public companies were required to implement after Dec. 15, 2017, and privately held companies and private nonprofits after Dec. 15, 2019. Now effective for most entities, it’s time to review the topic and recent updates.
FASB ASC 606. Revenue from Contracts with Customers and All recently released updates to ASC 606. Revenue from Contracts with Customers.
CPAs, auditors, consultants, and financial and managerial professionals.
Outline several of the special issues addressed in ASC 606-10-55. Describe the different methods of measuring progress toward complete satisfaction of a performance obligation. Explain the accounting treatment of warranties where the customer has no option to purchase the warranty separately. Explain the underlying criteria in customer options for additional goods or services. Explain the accounting treatment for customers’ unexercised rights. List the criteria for a license to be accounted for at a point in time or overtime. Define a bill-and-hold arrangement. Review excerpts from a selection of public companies’ revenue disclosures.
Bobbe M. Barnes, CPA, CGMA, CMA, CGFM Fair Oaks Ranch, TX
Bobbe is an educator and consultant with many years of professional experience in IFRS & US GAAP training around the world. Most recently, she developed the Certified International Professional Accounting certificate program, comprising training courses and examinations. Bobbe has worked in many countries including the USA, Central & Eastern Europe, Central Asia, Russia, Ukraine, China, Indonesia, Mongolia, and South Korea. She is a Certified Public Accountant (CPA), a Chartered Global Manangement Accountant, a Certified Management Accountant (CMA), and a Certified Government Financial Manager (CGFM).
Non-Member Price $109.00
Member Price $79.00