CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Revenue Recognition Principles and Standards

Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
4 Credits: Accounting

Course Description

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.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Identify the evaluation criteria for a contract, the components of the transaction price, and when a contract modification triggers treatment as a new contract

Chapter 2

  • Recognize the accounting treatment pertaining to customer acceptance clauses, rights to acquire additional goods, donations, asset repurchases, and breakage

Chapter 3

  • Recognize the situations under which contract liabilities occur, and when disaggregation is used

Chapter 4

  • Specify the methods used to control which third parties are recognized as customers and to control the use of justification documents for standalone pricing

Course Specifics

Course ID
1143396
Revision Date
March 23, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Steven M. Bragg Headshot
Steven M. Bragg, CPA

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 …

Steven M. Bragg, CPA Read More »

Revenue Recognition Principles and Standards

Expert Instructors
Format
CPE CREDITS
4 Credits: Accounting

$116.00$136.00

Clear
Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
4 Credits: Accounting

Course Description

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.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Identify the evaluation criteria for a contract, the components of the transaction price, and when a contract modification triggers treatment as a new contract

Chapter 2

  • Recognize the accounting treatment pertaining to customer acceptance clauses, rights to acquire additional goods, donations, asset repurchases, and breakage

Chapter 3

  • Recognize the situations under which contract liabilities occur, and when disaggregation is used

Chapter 4

  • Specify the methods used to control which third parties are recognized as customers and to control the use of justification documents for standalone pricing

Course Specifics

Course ID
1143396
Revision Date
March 23, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Steven M. Bragg Headshot
Steven M. Bragg, CPA

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 …

Steven M. Bragg, CPA Read More »

Revenue Recognition Principles and Standards

Expert Instructors
Format
CPE CREDITS
4 Credits: Accounting

$116.00$136.00

Clear