Interpreting the FASB Revenue Recognition Standard: What All CPAs Need to Know
January 21, 2027
Webcast Replay
4 CPE Credits
Interpreting the FASB Revenue Recognition Standard: What All CPAs Need to Know
Mastering revenue recognition It's crucial to know the key principles of revenue recognition to recognize revenue effectively. You'll gain an understanding of these key principles by exploring the five-step revenue recognition process. You’ll learn more about:
Identifying a customer contract
Determining performance obligations
Establishing a transaction price
Allocating the transaction price
Recognizing revenue Fulfilling performance obligations Enhancing financial acumen through practical management strategies and real-world examples can significantly improve your organization's ability to excel in revenue recognition practices. You’ll cover several aspects of performance obligations, including:
Identifying distinct goods and services
Implications of promised goods
Complexities associated with shipping and handling activities
Learning 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.
Major Topics
Revenue recognition overview
Identifying the contract with a customer and performance obligations
Transaction price
CPE Credits Available
4 CPE Credits
4
Accounting
Things to Know About This Course
Course Level
Intermediate
Professional Area of Focus
Accounting
Prerequisites
Experience in application of accounting standard
Advanced Preparation
None
Intended Audience
Accountants in public practice, industry and academia who need an update on the latest revenue recognition guidance
