Kentucky Society of Certified Public Accountants

Overview

This course provides an overview of critical challenges companies encounter under ASC 606, emphasizing several key areas that can be particularly challenging for effective revenue recognition. This includes identifying valid contracts and determining performance obligations.

Prerequisites

None

Objectives

Identify the criteria for contract validity under ASC 606
Recognize complexities in multiple contracts with the same customer
Determine the effects of contract modifications on revenue recognition
Differentiate between contract cancellations and terminations
Identify distinct performance obligations within contracts under ASC 606
Recognize the criteria for determining if goods or services are separately identifiable
Differentiate between bundled offerings and individual performance obligations
Determine the impact of customization on performance obligations in contracts
Recognize the impact of changes in customer requirements on performance obligations

Highlights

Types of performance obligations
Bundled offerings
Customizations
Modifications to product specifications
Requests for additional services
Enforceability and payment terms

Register Now

Materials are generally available 3 days in advance of an event. Once you have downloaded the manual, we are unable to cancel your registration.

Event Code:

SUS0139

2 CPE Credits

Accounting: 2 Credits

Registration

Member Price:

$49

Non-member Price:

$69