With ASC 606 effective for most entities, it’s time to review the topic and recent updates. This course concentrates on the miscellaneous topics in ASC 606, Revenue from Contracts with Customers, such as effective date, disclosure, and transition along with ASC 340-40, Other Assets and Deferred Costs. In addition, excerpts from public company disclosures are reviewed. 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.
FASB ASC 606. Revenue from contracts with customers. FASB ASC 340-40. Other assets and deferred costs. All recently released updates to ASC 606.
Familiarity with accounting for revenue.
CPAs, auditors, consultants, and financial and managerial professionals.
Explain the objective of disclosure under ASC 606. Explain the elections available to nonpublic entities regarding disclosure under ASC 606. Illustrate, measure, present and disclose other assets and deferred costs relating to ASC 606. Identify and differentiate between the two methods of transition. 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 $119.00
Member Price $89.00