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Key Principles of Revenue Recognition & LeasingCode: 23-REVLEASE
Price: $34.95
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Course Details
71 pages
Course description and objectives:
This course provides an overview of the key principles related to both revenue recognition and leasing transactions. The revenue recognition guidance is included within ASC Topic 606 and includes a five-step model identifying a contract, identifying performance obligation, determining the transaction price, allocating the transaction price to performance obligations, and recognizing revenue. The lease accounting and reporting requirements are outlined in ASC Topic 842. This topic addresses areas such as how to correctly identify a lease within a contract, as well as the overall recognition, measurement, subsequent measurement, and disclosure requirements.
Course Objectives:
After reading the materials, participants will able to:
- List the five steps involved in the new revenue recognition model
- Recognize the considerations involved in identifying whether a contract exists
- Determine whether an arrangement contains a lease
- Identify considerations with respect to substitution rights
Presentation Method: Self-Study
Category: Accounting
CPE credit: 4 Hours
Program Level: Update
Prerequisites: None
Advance Preparation: None
Exam expiration date: Participants must submit exams for grading within one year from the date of purchase
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American CPE, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
