Revenue Recognition Principles and Standards ON DEMAND
Available Until
Your Desk
4.0 Credits
Member Price $116.00
Non-Member Price $133.00
Overview
For many organizations, the single most critical accounting topic is the recognition of revenue–when can it be recognized and how much do you recognize? If you don’t recognize the correct amount of revenue, it may be necessary to engage in adjustments at a later date, which can cause readers to doubt the veracity of your financial statements. In Revenue Recognition, we present the recognition principles needed to account for contracts with customers, using summarizations of the original accounting standards and many explanatory examples. A number of peripheral issues are also covered, including the treatment of variable consideration, noncash consideration, price discounts, subsequent price changes, consignments, licensing, repurchase agreements, disclosures, and much more.
Highlights
Revenue Recognition. Other Revenue Topics. Revenue Presentation and Disclosure. Management of Revenue Recognition.
Prerequisites
None.
Designed For
CPAs, CFOs, controllers, financial professionals, and auditors.
Objectives
Identify the evaluation criteria for a contract, the components of the transaction price, and when a contract modification triggers treatment as a new contract. Recognize the accounting treatment pertaining to customer acceptance clauses, rights to acquire additional goods, donations, asset repurchases, and breakage. Recognize the situations under which contract liabilities occur, and when disaggregation is used. Specify the methods used to control which third parties are recognized as customers and to control the use of justification documents for standalone pricing.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $133.00
Member Price $116.00