Interpreting the FASB Revenue Recognition Standard: What All CPAs Need to Know

Overview

Well-defined revenue recognition guidelines, insights and practical management tips designed to address the complexities of FASB ASC 606.

Prerequisites

Experience in application of accounting standard

Objectives

• Identify principles and requirements of revenue recognition.
• Identify requirements for identifying a contract with a customer.
• Determine performance obligations.
• Identify requirements for determining and allocating a transaction price.
• Identify special considerations for implementing FASB ASC 606 and FASB ASC 340-40.
• Identify financial accounting and reporting requirements.

Highlights