Revenue Recognitionis an invaluable course for professionals seeking to deepen their understanding of one of the most vital aspects of accounting. This course thoroughly examines the recognition principles for contracts with customers, offering detailed insight into complex topics such as variable and noncash consideration, price discounts, consignments, licensing, and repurchase agreements. The course goes beyond theoretical knowledge, providing practical examples and addressing a wide range of peripheral issues related to revenue recognition. Participants will gain the skills to identify contract evaluation criteria, understand the accounting treatments of various customer-related clauses, and manage contract liabilities effectively. This course isn't just about learning the standards; it's about applying them in real-world situations, enhancing your ability to handle revenue recognition with confidence and precision.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Chapter 1
Identify the evaluation criteria for a contract, the components of the transaction price, and when a contract modification triggers treatment as a new contract
Chapter 2
Recognize the accounting treatment pertaining to customer acceptance clauses, rights to acquire additional goods, donations, asset repurchases, and breakage
Chapter 3
Recognize the situations under which contract liabilities occur, and when disaggregation is used
Chapter 4
Specify the methods used to control which third parties are recognized as customers and to control the use of justification documents for standalone pricing
Major Topics
Revenue Recognition
Other Revenue Topics
Revenue Presentation and Disclosure
Management of Revenue Recognition
