Self-Study
ASC 606 Insights: Timing of Revenue Recognition & Principal vs. Agent Considerations
$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 distinguishing between recognizing revenue over time versus at a point in time as well as principal versus agent considerations.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Identify factors that influence the determination of control transfer in a contract
- Recognize implications of transferring control over time versus at a specific point in time
- Distinguish between obligations that satisfy control transfer over time at a point in time
- Determine the significance of contract terms in assessing when control transfers to a customer
- Identify key factors that determine whether an entity acts as a principalor an agent
- Recognize the impact of principal agent classifications on revenue recognition
- Determine steps for accurately assessing principaland agent roles in revenue transactions
- Recognize best practices for conducting principal agent evaluations
Course Specifics
SS125420918
February 4, 2025
There are no prerequisites.
None
52
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
