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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Performance Obligation - How to Identify Performance Obligations
The course was thorough and easy to understand. I went away with an ample understanding/knowledge of the subject matter.
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Easy to understand
Simple, but easy to understand hot topics with completeness
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Lease Accounting & Reporting -- What You Need to Know
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