Revenue Recognition  #361623

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Course Description
Course publication/revision date: This course was updated on 3/7/2023.

The recognition of revenue is among the most misunderstood areas of accounting, leading to ongoing arguments between management and auditors about how to account for various sales transactions. Revenue Recognition brings clarity to the topic by focusing on Topic 606, Revenue from Contracts with Customers, which describes the five-step process for recognizing many types of revenue. The discussion includes the establishment of a contract, the determination of performance obligations, and how to set and allocate prices. The course covers many ancillary topics as well, including the treatment of variable consideration, noncash consideration, price discounts, subsequent price changes, consignments, licensing, repurchase agreements, disclosures, and more. In short, when there is an issue about revenue recognition, consult this course.

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

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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