QAS Self-Study
Overview
CPE Credits
4 Credits: Accounting
Course Description
This course provides an overview of the key principles related to both revenue recognition and leasing transactions. The revenue recognition guidance is included within ASC Topic 606 and includes a five-step model identifying a contract, identifying performance obligation, determining the transaction price, allocating the transaction price to performance obligations, and recognizing revenue. The lease accounting and reporting requirements are outlined in ASC Topic 842. This topic addresses areas such as how to correctly identify a lease within a contract, as well as the overall recognition, measurement, subsequent measurement, and disclosure requirements.
Learning Objectives
Upon completion of this chapter, you will be able to:
• List the five steps involved in the new revenue recognition model
• Recognize the considerations involved in identifying whether a contract exists
• Identify the considerations involved with measuring the transaction price
• Recognize the steps involved in allocating the transaction price to performance obligations
Course Specifics
|
Course ID 1223572 |
Revision Date January 19, 2022 |
Number of Pages 89 |
Prerequisites There are no prerequisites. |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
Course Instructor
Kelen is a recognized author and reviewer of CPE courses and has authored over 120 courses (300+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen also remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”. Kelen has nearly 20 years of progressive finance and accounting experience. He …
Key Principles of Revenue Recognition & Leasing
$116.00 – $136.00
QAS Self-Study
Overview
CPE Credits
4 Credits: Accounting
Course Description
This course provides an overview of the key principles related to both revenue recognition and leasing transactions. The revenue recognition guidance is included within ASC Topic 606 and includes a five-step model identifying a contract, identifying performance obligation, determining the transaction price, allocating the transaction price to performance obligations, and recognizing revenue. The lease accounting and reporting requirements are outlined in ASC Topic 842. This topic addresses areas such as how to correctly identify a lease within a contract, as well as the overall recognition, measurement, subsequent measurement, and disclosure requirements.
Learning Objectives
Upon completion of this chapter, you will be able to:
• List the five steps involved in the new revenue recognition model
• Recognize the considerations involved in identifying whether a contract exists
• Identify the considerations involved with measuring the transaction price
• Recognize the steps involved in allocating the transaction price to performance obligations
Course Specifics
|
Course ID 1223572 |
Revision Date January 19, 2022 |
Number of Pages 89 |
Prerequisites There are no prerequisites. |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
Course Instructor
Kelen is a recognized author and reviewer of CPE courses and has authored over 120 courses (300+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen also remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”. Kelen has nearly 20 years of progressive finance and accounting experience. He …
Key Principles of Revenue Recognition & Leasing
$116.00 – $136.00