Revenue Recognition Contract Assessment

Revenue Recognition Contract Assessment
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Price: $19.99
Credits: 1.0
Prerequisite: Basic Accounting Knowledge
Level: Basic to Intermediate
Model: KC022
Author: Kelen F. Camehl, CPA, MBA
Average Rating: Not Rated
Fields of study: Accounting
Format: PDF


Revenue Recognition – Contract Assessment


This course provides an overview of the first step in the revenue recognition process – the identification of a contract with a customer.  This includes a discussion of key definitions and considerations along with the detailed accounting guidance from ASC Topic 606.  This course incorporates excerpts from the FASB’s basis for conclusions of the new revenue recognition standard as well as key excerpts from Big 4 revenue recognition guides in order to develop a comprehensive understanding of this step in the process.     

Learning Objectives

Upon completion of this course, you will be able to:

·       List the five steps involved in the new revenue recognition model

·       Recognize the overall considerations involved in identifying whether a contract exists

·       Identify how collectibility is assessed to determine whether a contract exists

        Revision Date:  1/14/2022

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants :
Any CPA looking to maintain or enhance their professional competence

Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
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