ASC 606 Insights: Licensing Revenue and Financial Statement DisclosuresCode: 27-ASCLICENSING

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Course Details

Pages: 36
Course 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 licensing arrangements, with an emphasis on how to recognize revenue from agreements that grant customers rights to use or access intellectual property. This course also addresses the requirements and challenges with respect to financial statement disclosures.

Learning Objectives
Upon completion of this chapter, you will be able to:
  •  Identify criteria for determining whether a license is distinct under ASC 606
  •  Distinguish between licenses that grant a right to use IP and those that grant a right to access IP
  •  Recognize the differences between functional and symbolic intellectual property IP
  •  Determine when revenue should be recognized for licenses involving functional IP
  •  Select the appropriate revenue recognition method for licenses that provide access to evolving IP
Category: Accounting

Recommended CPE Hours: 2

Level of knowledge: Overview

Prerequisite: General understanding of Accounting

Advanced Preparation: None
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