Revenue Recognition Under ASC 606 2024
1.00 Credits
Member Price $49
Non-Member Price $59
Overview
Learn the five-step revenue recognition process in ASC 606 through real-world examples that illustrate the impact on revenue recognition practices.
Highlights
- Five-step process to recognize revenue under ASC 606
- Step 1: Identify the contract
- Step 2: Identify the performance obligations
- Step 3: Determine the transaction price
- Step 4: Allocate the transaction price
- Step 5: Recognize revenue
Prerequisites
None
Designed For
CPAs, auditors and financial professionals.
Objectives
- Recognize the scope of ASC 606
- Identify critical terms and definitions under ASC 606
- Determine the impact of ASC 606 on reporting entities
Preparation
None
Leader(s):
Leader Bios
Summer Taylor
Summer Taylor is a Senior Manager in Deloitte and Touche LLP’s external audit practice. She is a CPA with over 13 years of public accounting and business experience. She specializes in consumer product, retail and manufacturing business issues. She is also a Subject Matter Resource on Internal Controls and Sarbanes-Oxley. Ms. Taylor facilitates for Deloitte’s internal learning program and has also taught at the Paul Merage School of Business at UC Irvine. She is a member of the AICPA and alumni of UCLA.
Non-Member Price $59
Member Price $49