ASC 606: Requirements and Deadlines (OnDemand Webinar)

$219.00

SKU: 411380EAU

Description

Gain insight into the challenges in current practice related to recognizing revenue under ASC 606.ASC 606 was effective for most non public companies in 2019. However, even after five years of experience, companies continue to encounter difficulties applying the new standard’s guidance. This session will refresh your understanding of the five step process required by ASC 606 and provide insight into the challenges faced in practice in applying its precepts through real life examples and case studies. The session will focus on the more complex aspects of ASC 606 and provide insight into how to navigate those complexities.

Date: 2024-07-17 Start Time: End Time:

Learning Objectives

Overview of the Standard
• Overview and Scope
• Other Guidance

Overview of the Five Step Model
• Step 1: Identify the Contract
• Step 2: Identify Separate Performance Obligations
• Step 3: Determine the Transaction Price
• Step 4: Allocate Transaction Price to Performance Obligations
• Step 5: Recognize Revenue

Other Considerations
• Licenses of Intellectual Property
• Contract Costs
• Principal vs. Agent
• Presentation and Disclosures

Effective Date and Implementation Considerations
• Effective Dates
• Planning and Sample Timelines

Angela Newell-BDO USA P.A.