Revenue: The Five Steps-ASC Topic 606-10 2024
2.00 Credits
Member Price $89
Non-Member Price $119
Overview
This course, the first in a three-course series, concentrates on the five-step approach covered in ASC Topic 606, Revenue from Contracts with Customers. Since ASC Topic 606, Revenue from Contracts with Customers has been adopted by most entities, it is time to review the topic, including any recent updates. The course also includes pertinent note disclosures from several publicly traded companies across several industries. Be sure to register for all three parts of this series: Revenue: The Five Steps-Topic 606-10 Revenue: Special Implementation Guide-Topic 606-10-55 Revenue: Miscellaneous Topics
Highlights
- FASB ASC Topic 606, Revenue from Contracts with Customers
- All recently released updates to FASB ASC Topic 606, Revenue from Contracts with Customers
Prerequisites
None
Designed For
CPAs, auditors, consultants, and financial and managerial professionals.
Objectives
- Outline the Five Steps to revenue recognition under ASC Topic 606-10
- Identify the contract
- Determine if the performance obligation is satisfied over time or at a point in time
- Explain the concept of variable consideration and calculate the amount of variable consideration, if any
- Allocate the transaction price to the performance obligations
- Recognize revenue
- Review excerpts from a selection of public companies' revenue disclosures
Preparation
None
Leader(s):
Leader Bios
Bobbe Barnes, AICPA
Bobbe Barnes is an educator and consultant with many years of professional experience in IFRS, US GAAP, and certification training around the world. She recently completed nine years overseas working in emerging economies, where she led the team that developed the Certified International Professional Accounting certificate program, comprising training courses and examinations. Bobbe has worked in many countries and regions including the USA, Africa, Central & Eastern Europe, Central Asia, Mongolia, Russia, Ukraine, Middle East, and Far East including China, Indonesia, Malaysia, Thailand, and South Korea. Bobbe is a Certified Public Accountant (CPA), a Certified Management Accountant (CMA), and a Certified Government Financial Manager (CGFM). In addition, she is active in the Institute of Management Accountants, having served on the Board of Directors and the standing Committee on Ethics.
Just recently she was a keynote speaker at the International Accounting and Auditing Conference in Tashkent, Uzbekistan, and a speaker at the fifth annual Middle East IFRS and Accounting Summit in Dubai, where she also conducted a full day workshop on Financial Instruments.
Non-Member Price $119
Member Price $89