Revenue: Special Implementation Guide-ASC Topic 606-10-55 2024
2.00 Credits
Member Price $89
Non-Member Price $119
Overview
This is the second in a three-course series that concentrates on the Special Implementation Guide as covered in ASC Topic 606, Revenue from Contracts with Customers . Since ASC Topic 606 has been adopted by most entities, it is time to review the topic, including any recent updates. The course also includes pertinent note disclosures from several publicly traded companies across several industries. Be sure to register for all three parts of this series: Revenue: The Five Steps-Topic 606-10 Revenue: Special Implementation Guide-Topic 606-10-55 Revenue: Miscellaneous Topics
Highlights
- FASB ASC 606, Revenue from Contracts with Customers
- All recently released updates to ASC Topic 606
Prerequisites
None
Designed For
CPAs, auditors, consultants, and financial and managerial professionals.
Objectives
- Outline several of the special issues addressed in ASC Topic 606-10-55
- Describe the different methods of measuring progress toward complete satisfaction of a performance obligation
- Explain the accounting treatment of warranties where the customer has no option to purchase the warranty separately
- Explain the underlying criteria in customer options for additional goods or services
- Explain the accounting treatment for customers' unexercised rights
- List the criteria for a license to be accounted for at a point in time or overtime
- Define a bill-and-hold arrangement
- Review excerpts from a selection of public companies' revenue disclosures
Preparation
None
Leader(s):
Leader Bios
Bobbe Barnes, AICPA
Bobbe Barnes is an educator and consultant with many years of professional experience in IFRS, US GAAP, and certification training around the world. She recently completed nine years overseas working in emerging economies, where she led the team that developed the Certified International Professional Accounting certificate program, comprising training courses and examinations. Bobbe has worked in many countries and regions including the USA, Africa, Central & Eastern Europe, Central Asia, Mongolia, Russia, Ukraine, Middle East, and Far East including China, Indonesia, Malaysia, Thailand, and South Korea. Bobbe is a Certified Public Accountant (CPA), a Certified Management Accountant (CMA), and a Certified Government Financial Manager (CGFM). In addition, she is active in the Institute of Management Accountants, having served on the Board of Directors and the standing Committee on Ethics.
Just recently she was a keynote speaker at the International Accounting and Auditing Conference in Tashkent, Uzbekistan, and a speaker at the fifth annual Middle East IFRS and Accounting Summit in Dubai, where she also conducted a full day workshop on Financial Instruments.
Non-Member Price $119
Member Price $89