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Topic 606 Revenue Recognition Model

Go beyond understanding the resulting debits and credits in the financial statements.

The new revenue recognition standard brings significant change in how organizations approach recognizing, measuring and disclosing revenue. All transactions with customers must be accessed using the new five step approach. Within the five steps are multiple additional considerations that also need to be addressed depending on the nature of the transaction. This topic will guide you through those five steps and help you apply them to your organization transactions with customers. The material will also explain adoption methods and disclosure requirements.

Runtime: 91 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Adoption

  • Transactions That Apply
  • When Is the Standard Effective?
  • How the Standard Should Be Adopted
    • Full Retrospective
    • Modified Retrospective

Core Principles and the 5 Steps Approach

  • The Core Principle of the Standard
  • 5 Step Approach for Recognizing Revenue Under the New Standard
  • Considerations and Information Needed

Financial Statement Presentation and Disclosures

  • How Revenue Should Be Presented Under the New Standard
  • Disclosures Required Under the New Standard
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on October 18, 2019.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Mark Robins, CPA

Mark Robins, CPA

Aronson LLC

  • Director, assurance services at Aronson LLC
  • Over 10 years of experience in public accounting
  • Specialize in nonprofit financial reporting and auditing
  • Conducts regular seminars and workshops internally and externally on various topics in accounting and auditing
  • Member of the AICPA
  • B.S. degree in accounting, California State University Northridge
  • Can be contacted at 240-364-2645 or [email protected]
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 406419
Published 2019
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