Customer Service: 800-778-7436     

To access your product click the Log In link at the top right of the screen. Once inside your account, you will be able to access your Packages, Self-Study Product, and Webinar Registrations.

Sign In to Your Surgent Account

Forgot Username or Password | Register for an Account

Guide to the Topic 606 Revenue Recognition Model for All CPAs (REV4)

  • Format Self-Study Download
  • Credits 4.00
  • Level Intermediate
  • Field of Study Accounting (Technical) (4)

Overview

While the effective date of Topic 606 has passed for most entities, there will always be a need for a comprehensive review of the accounting related to revenue recognition, including recent and proposed changes to this guidance. Also, if you are taking advantage of the FASB deferral of Topic 606’s effective date, you are still completing your implementation plan. Whether you are looking to improve your revenue recognition processes, benchmark your financial statement disclosures against your peer group, or assess the impact of changes to your revenue recognition processes due to COVID-19, this course will provide you with the information you need to apply Topic 606 in this current environment. This course will review the basis Topic 606 five-step model and provide specific implementation guidance and examples. It will cover the presentation and disclosure requirements for Topic 606, including the private company disclosure relief available under Topic 606, and provide disclosure examples as well. It will also discuss the impact on revenue recognition due to changing customer arrangements that many companies made as a result of COVID-19. Lastly, the course will discuss best practices, lessons learned, and ways to improve the recognition of revenue going forward. Even though Topic 606 is, for the most part, behind us, it is still possible to improve the processes that drive revenue recognition.



Major Topics:

  • Topic 606, Revenue from Contracts with Customers, including recently issued ASUs impacting Topic 606
  • The FASB’s new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance
  • Presentation and disclosure requirements
  • Accounting considerations related to COVID-19-driven changes to revenue recognition processes
  • Lessons learned and best practices for improving business processes related to revenue recognition going forward

Learning Objectives:

  • Explain the FASB’s new revenue recognition guidance found in Topic 606
  • Describe the FASB’s new five-step revenue recognition model
  • Discuss the presentation and disclosure requirements in the new standard
  • Utilize hands-on examples and illustrations to increase your overall understanding and application of the material
  • View feedback from public entity implementation of Topic 606
  • Recall best practices and areas for improvement in the recognition of revenue

Who should take this course:

Accounting and auditing practitioners at all levels desiring to understand the FASB’s new revenue recognition guidance

Experience in accounting and auditing

None

No

No

No

QAS Approval Surgent IRS Approval Surgent CFP Approval Surgent CTEC Approval Surgent
CPE Webinars
CPE Webinars

Thank You!

Thank You! Your subscription has been submitted.