New Revenue Standard ASC 606  #313524

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Course Description

Course publication/revision date: This course was updated on 1/6/24.

The objective of this course is to address the new revenue standard in ASC 606, Revenue from Contracts with Customers, and its related updates, and provide guidance to nonpublic (private) entities who implemented the standard in 2020 and are continuing to experience post-implementation issues.

Topics include and overview of the new standard and its core principle, an analysis of each of the five steps required in the revenue model, selected issues encompassing principal versus agent considerations, dealing with warranties, bill-and-hold arrangements, and consignment transaction. The course also addresses how to account for contract costs, financial statement presentation of revenue-related accounts, disclosures, and transition methods and guidance.

Course, Credit, Sponsor Information  
Open link (above): Course Details, Table of Contents, and Learning Objectives.
Subject Codes/Fields of Study: Auditing

Course Format Options
If you purchase the "Online Book and Online Exam" option of a course, you get anytime access to the course (in PDF) and the online exam. Both can be printed.
If you purchase the "Hardcopy Book and Online Exam" option, you get online access to the course-PDF and exam, PLUS a printed copy of the course-book sent via USPS.

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