Gain insight into the challenges in current practice related to recognizing revenue under ASC 606.
ASC 606 was effective for most non public companies in 2019. However, even after five years of experience, companies continue to encounter difficulties applying the new standard's guidance. This session will refresh your understanding of the five step process required by ASC 606 and provide insight into the challenges faced in practice in applying its precepts through real life examples and case studies. The session will focus on the more complex aspects of ASC 606 and provide insight into how to navigate those complexities.
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Overview of the Standard
- Overview and Scope
- Other Guidance
Overview of the Five Step Model
- Step 1: Identify the Contract
- Step 2: Identify Separate Performance Obligations
- Step 3: Determine the Transaction Price
- Step 4: Allocate Transaction Price to Performance Obligations
- Step 5: Recognize Revenue
Other Considerations
- Licenses of Intellectual Property
- Contract Costs
- Principal vs. Agent
- Presentation and Disclosures
Effective Date and Implementation Considerations
- Effective Dates
- Planning and Sample Timelines
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on July 17, 2024.
Call 1-866-352-9540 for further credit information.
- AIPB 2.0
- This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Angela Newell
BDO USA P.A.
• Deputy Managing Principal of the Professional Practice Group of BDO USA P.A.
• More than 20 years of experience in both auditing and operational and financial reporting
• Works with audit engagement teams to determine the appropriate accounting for a variety of topics
• Served a four year rotation on the Financial Reporting Executive Committee of the AICPA as BDO’s representative, and previously served a prior term as an industry representative; served as a member of the AICPA’s Revenue Recognition Working Group
• M.S. and B.S. degrees, University of Arkansas
• Can be contacted at 214-689-5669 or [email protected]
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- OnDemand Courses
- Live Webinars
- MP3 Downloads
- Course Manuals
- Executive Reports
- White Papers and Articles
Additional benefits include:
- State Specific Credit Tracker
- All-Access Pass Course Concierge
Questions? Call 877-296-2169 to speak with a real person.
Access to all training products for one year
$699/year
Unlimited Lorman Training
With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!
Easy Registrations
Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.
Invest in Yourself
You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.
