What does the Revenue Recognition course cover?
Revenue Recognition is covered here in 12 modules: Introduction to Revenue Recognition: Key concepts and definitions, ASC 606 and IFRS 15 Overview: Key differences between ASC 606 and IFRS 15, Step 1 - Identify the Contract: Definition of a contract, Case studies and examples and 9 more.
How do you approach Revenue Recognition step by step?
The work is sequenced in 12 stages. It starts with Introduction to Revenue Recognition: Key concepts and definitions, moves through ASC 606 and IFRS 15 Overview: Key differences between ASC 606 and IFRS 15 and Step 1 - Identify the Contract: Definition of a contract, Case studies and examples, and ends at Conclusion and Final Assessment: Summary of key concepts, Certificate of.
What is in Module 1 of the Revenue Recognition course?
Module 1 is Introduction to Revenue Recognition: Key concepts and definitions. It works through overview of revenue recognition principles, history of revenue recognition standards, importance of revenue recognition in financial reporting and 1 more. It sets the vocabulary the remaining 11 modules build on.
How is the Revenue Recognition course delivered?
The Revenue Recognition course is fully self-paced with immediate online access after enrolment. Access does not expire and future updates are included at no cost. It can be taken on any device, and a certificate of completion is issued by The Art of Service when you finish.
How much does the Revenue Recognition course cost?
The Revenue Recognition course is $199 as a one time payment. There is no subscription, no per seat licence and no hidden fee. Enrolment carries a 30 day satisfied or refunded guarantee, so it can be assessed in full before you commit.
Closely related courses: Revenue Recognition Toolkit, Revenue Recognition in Revenue Assurance Dataset, Revenue Recognition in Revenue Growth Management Kit, Revenue Recognition Standards for Senior Revenue.
More answers: what you get with every course, refund policy, all help answers.
Revenue Recognition: A Complete Guide
Course Overview
This comprehensive course provides a detailed understanding of revenue recognition principles and practices. Participants will learn how to apply the latest revenue recognition standards, including ASC 606 and IFRS 15, and receive a certificate upon completion issued by The Art of Service.Course Features
- Interactive and engaging learning experience
- Comprehensive and up-to-date content
- Personalized learning approach
- Practical and real-world applications
- High-quality content developed by expert instructors
- Certificate upon completion issued by The Art of Service
- Flexible learning schedule
- User-friendly and mobile-accessible platform
- Community-driven discussion forums
- Actionable insights and hands-on projects
- Bite-sized lessons and lifetime access
- Gamification and progress tracking features
Course Outline
Module 1. Introduction to Revenue Recognition: Key concepts and definitions
- Overview of revenue recognition principles
- History of revenue recognition standards
- Importance of revenue recognition in financial reporting
- Key concepts and definitions
Module 2. ASC 606 and IFRS 15 Overview: Key differences between ASC 606 and IFRS 15
- Introduction to ASC 606 and IFRS 15
- Key differences between ASC 606 and IFRS 15
- Effective dates and transition requirements
- Impact on financial statements and disclosures
Module 3. Step 1 - Identify the Contract: Definition of a contract, Case studies and examples
- Definition of a contract
- Criteria for identifying a contract
- Contract modifications and combinations
- Case studies and examples
Module 4. Step 2 - Identify Performance Obligations: Distinct goods or services
- Definition of a performance obligation
- Criteria for identifying performance obligations
- Distinct goods or services
- Series of distinct goods or services
Module 5. Step 3 - Determine the Transaction Price: Significant financing component
- Definition of the transaction price
- Variable consideration
- Constraining estimates of variable consideration
- Significant financing component
Module 6. Step 4 - Allocate the Transaction Price: Expected cost plus margin approach
- Allocation of the transaction price
- Relative standalone selling price method
- Adjusted market assessment approach
- Expected cost plus margin approach
Module 7. Step 5 - Recognize Revenue: Recognition of revenue, Measuring progress toward satisfaction
- Recognition of revenue
- Satisfaction of performance obligations
- Measuring progress toward satisfaction
- Over time versus point in time recognition
Module 8. Additional Considerations: Returns and refunds, Warranties and guarantees
- Warranties and guarantees
- Returns and refunds
- Repurchase agreements
- Bill-and-hold arrangements
Module 9. Disclosure Requirements: under ASC 606 and IFRS 15, Disclosure of significant judgments
- Disclosure requirements under ASC 606 and IFRS 15
- Qualitative and quantitative disclosures
- Disclosure of significant judgments
- Disclosure of estimates and assumptions
Module 10. Implementation and Transition: Effective dates and deadlines
- Implementation guidance
- Transition requirements
- Effective dates and deadlines
- Practical tips for implementation
Module 11. Case Studies and Examples: Lessons learned and best practices
- Real-world examples of revenue recognition
- Case studies of companies implementing ASC 606 and IFRS 15
- Analysis of financial statements and disclosures
- Lessons learned and best practices
Module 12. Conclusion and Final Assessment: Summary of key concepts, Certificate of Completion
- Summary of key concepts
- Final assessment and evaluation
- Certificate of Completion
- Continuing education and support