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 timeversus at a point in time as well as principalversus agentconsiderations.
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 agentclassifications on revenue recognition
Determine steps for accurately assessing principaland agentroles in revenue transactions
Recognize best practices for conducting principal agentevaluations
Major Topics
Point in Time vs. Over Time
Satisfied Over Time
Measuring Progress
Output Methods
Input Methods
Satisfied At a Point in Time
Principal vs. Agent Considerations
