Self-Study
ASC 606 Insights: Licensing Revenue and Financial Statement Disclosures
$58.00 – $78.00
Webcasts are available for viewing Monday – Saturday, 8am – 8pm ET.
Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)
Secure Transaction CPE Credits
2 Credits: Accounting
Course Level
Overview
Format
Self-Study
Course Description
This course provides an overview of critical challenges companies encounter under ASC 606, emphasizing several key areas that can be particularly challenging for effective revenue recognition. This includes licensing arrangements, with an emphasis on how to recognize revenue from agreements that grant customers rights to use or access intellectual property. This course also addresses the requirements and challenges with respect to financial statement disclosures.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Identify criteria for determining whether a license is distinct under ASC 606
- Distinguish between licenses that grant a right to use IP and those that grant a right to access IP
- Recognize the differences between functional and symbolic intellectual property IP
- Determine when revenue should be recognized for licenses involving functional IP
- Select the appropriate revenue recognition method for licenses that provide access to evolving IP
- Identify key financial statement disclosurerequirements under ASC 606 for revenue recognition
- Recognize required disclosures about contract nature and revenue policies
- Identify the timing of revenue recognition disclosures based on ASC 606 guidelines
Course Specifics
SS125420783
February 3, 2025
There are no prerequisites.
None
56
Compliance Information
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Meet The Experts
Kelen is a recognized author and reviewer of CPE courses and has authored over 145 courses (350+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s Journal of Accountancy. Kelen has nearly 20 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Advisor with HP. Prior to HP, he served in multiple …
QAS Self-Study
