Self-Study
ASC 606 Insights: Contract Identification and Performance Obligations
$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 identifying valid contracts and determining performance obligations.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Identify the criteria for contract validity under ASC 606
- Recognize complexities in multiple contracts with the same customer
- Determine the effects of contract modifications on revenue recognition
- Differentiate between contract cancellations and terminations
- Identify distinct performance obligations within contracts under ASC 606
- Recognize the criteria for determining if goods or services are separately identifiable
- Differentiate between bundled offerings and individual performance obligations
- Determine the impact of customization on performance obligations in contracts
- Recognize the impact of changes in customer requirements on performance obligations
Course Specifics
SS125420626
January 30, 2025
There are no prerequisites.
None
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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
