What does the Revenue Recognition Mastery course cover?
Revenue Recognition Mastery is covered here in 15 modules: Introduction to Revenue Recognition: Key concepts and terminology, Revenue Recognition Principles: Step 3: Determine the transaction price, Identifying the Contract with the Customer: Definition of a contract and 12 more. The outline lists 61 specific topics, opening with definition and importance of revenue recognition and closing with analysis of case studies.
How do you approach Revenue Recognition Mastery step by step?
The work is sequenced in 15 stages. It starts with Introduction to Revenue Recognition: Key concepts and terminology, moves through Revenue Recognition Principles: Step 3: Determine the transaction price and Identifying the Contract with the Customer: Definition of a contract, and ends at Case Studies and Group Discussions: Analysis of case studies, Group discussions and debates.
What is in Module 1 of the Revenue Recognition Mastery course?
Module 1 is Introduction to Revenue Recognition: Key concepts and terminology. It works through definition and importance of revenue recognition, history of revenue recognition standards, Overview of ASC 606 and IFRS 15 and 1 more. It sets the vocabulary the remaining 14 modules build on.
How is the Revenue Recognition Mastery course delivered?
The Revenue Recognition Mastery 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 Mastery course cost?
The Revenue Recognition Mastery 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: Document Management, Revenue Recognition Toolkit.
More answers: what you get with every course, refund policy, all help answers.
Revenue Recognition Mastery: The Ultimate Step-by-Step Guide to Ensuring Compliance and Minimizing Risk
Course Overview
This comprehensive course is designed to provide participants with a thorough understanding of revenue recognition principles, rules, and regulations. Upon completion, participants will receive a certificate issued by The Art of Service, demonstrating their expertise in revenue recognition.Course Features
- Interactive and engaging learning experience
- Comprehensive and up-to-date content
- Personalized learning approach
- Practical, real-world applications
- High-quality content developed by expert instructors
- Certificate issued upon completion
- Flexible learning schedule
- User-friendly and mobile-accessible platform
- Community-driven discussion forums
- Actionable insights and hands-on projects
- Bite-sized lessons for easy learning
- Lifetime access to course materials
- Gamification and progress tracking features
Course Outline
Module 1. Introduction to Revenue Recognition: Key concepts and terminology
- Definition and importance of revenue recognition
- History of revenue recognition standards
- Overview of ASC 606 and IFRS 15
- Key concepts and terminology
Module 2. Revenue Recognition Principles: Step 3: Determine the transaction price
- Step 1: Identify the contract with the customer
- Step 2: Identify the performance obligations in the contract
- Step 3: Determine the transaction price
- Step 4: Allocate the transaction price to the performance obligations
- Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation
Module 3. Identifying the Contract with the Customer: Definition of a contract
- Definition of a contract
- Criteria for identifying a contract
- Contract modifications and amendments
- Collectibility and payment terms
Module 4. Identifying Performance Obligations: Types of performance obligations
- Definition of a performance obligation
- Types of performance obligations
- Identifying distinct performance obligations
- Series of distinct performance obligations
Module 5. Determining the Transaction Price: Definition of the transaction price
- Definition of the transaction price
- Determining the transaction price
- Variable consideration
- Constraining estimates of variable consideration
Module 6. Allocating the Transaction Price: Definition of a standalone selling price
- Definition of a standalone selling price
- Determining the standalone selling price
- Allocating the transaction price to performance obligations
- Residual approach
Module 7. Recognizing Revenue: at a point in time, Satisfaction of performance obligations
- Recognizing revenue at a point in time
- Recognizing revenue over time
- Satisfaction of performance obligations
- Measuring progress toward complete satisfaction of a performance obligation
Module 8. Contract Costs: Costs to fulfill a contract, Incremental costs of obtaining a contract
- Incremental costs of obtaining a contract
- Costs to fulfill a contract
- Amortization of contract costs
- Impairment of contract costs
Module 9. Contract Modifications: Impact on revenue recognition, Definition of a contract modification
- Definition of a contract modification
- Types of contract modifications
- Accounting for contract modifications
- Impact on revenue recognition
Module 10. Warranties and Guarantees: Impact on revenue recognition
- Definition of a warranty and guarantee
- Types of warranties and guarantees
- Accounting for warranties and guarantees
- Impact on revenue recognition
Module 11. Returns and Refunds: Constraining estimates of, Impact on revenue recognition
- Definition of a return and refund
- Accounting for returns and refunds
- Impact on revenue recognition
- Constraining estimates of returns and refunds
Module 12. Revenue Recognition in Specific Industries: Software and technology industry
- Software and technology industry
- Telecommunications industry
- Construction and real estate industry
- Healthcare industry
Module 13. Disclosure Requirements: Disclosure of contract balances
- Overview of disclosure requirements
- Disclosure of revenue recognition policies
- Disclosure of contract balances
- Disclosure of performance obligations
Module 14. Internal Controls and Auditing: Testing internal controls, Auditing revenue recognition
- Importance of internal controls
- Designing and implementing internal controls
- Auditing revenue recognition
- Testing internal controls
Module 15. Case Studies and Group Discussions: Analysis of case studies, Group discussions and debates
- Real-world examples of revenue recognition
- Group discussions and debates
- Application of revenue recognition principles
- Analysis of case studies
Certificate of Completion
Upon completion of the course, participants will receive a certificate issued by The Art of Service, demonstrating their expertise in revenue recognition.Course Format
The course is delivered online, with interactive and engaging content, including:- Video lectures
- Quizzes and assessments
- Case studies and group discussions
- Downloadable resources and templates
Target Audience
This course is designed for:- Accountants and auditors
- Financial managers and analysts
- Revenue recognition professionals
- Business owners and entrepreneurs