Revenue Recognition: Determining and Allocating the Transaction Price

Description

This course addresses steps three and four in the five-step process for revenue recognition under FASB ASC 606, Revenue from Contracts with Customers. Step 3 deals with determining the transaction price, including refund liabilities, variable consideration, and accounting policy elections. Step 4 deals with allocating the transaction price to performance obligations in the contract including stand-alone selling prices, allocation of a discount and changes in the transaction price.

Learning Objectives

When you complete this course you will be able to: *Recognize requirements for determining a transaction price *Recognize requirements for allocating a transaction price

Major Topics

*Steps 3 and 4 in the process for revenue recognition, determining the transaction price and allocating the transaction price to performance obligations in the contract

Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Accounting & Auditing
CPE Field of Study
Accounting
2
Who Should Attend

Accountants in public practice, industry, and academia who need an update on the latest revenue recognition guidance

Prerequisites

Experience in the application of accounting standards

Advanced Preparation

None

Location
Online
Event Information
When
Aug 24, 2021
10:00 am - 12:00 pm EDT
Location
Online
Total CPE Credits
2
Format
Webcast Replay

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Revenue Recognition: Determining and Allocating the Transaction Price


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