Revenue Recognition Topic 606 - Identify Performance Obligations Part 1

Overview

This course is meant to complement the course that evaluates all aspects of the five steps to revenue recognition. The course "Understanding the new revenue recognition rules" examines the five-step model outlined in the standard that organizations must utilize when recognizing revenue. The new standard applies to all companies.

Objectives

• Explore requirements behind step two of the revenue recognition standard performance obligations
• Identify the differentiation between distinct and non-distinct goods/ services
• Examine examples of both distinct and non-distinct goods/services
• Identify how to measure progress over a period of time
• Identify how to recognize revenue over a period of time
• Explore the processes used for intellectual property
• Test your knowledge examples

Highlights

• Revenue Recognition
• Accounting