Courses

Surgent's ASC 606 Insights: Licensing Revenue and Financial Statement Disclosures

Register

Member Price: $49.00 Non-Member Price: $79.00

Developer:: SURGENT MCCOY SELF-STUDY CPE, LLC
CPE Credits:: Accounting: 2.00
Fields of Study:: Accounting
Level:: Basic

This course provides an overview of critical challenges companies encounter under ASC 606, emphasizing several key areas that can be particularly challenging for effective revenue recognition. This includes licensing arrangements, with an emphasis on how to recognize revenue from agreements that grant customers rights to use or access intellectual property. This course also addresses the requirements and challenges with respect to financial statement disclosures.

Objective

Identify criteria for determing whether a license is distinct under ASC 606
Distinguish between licenses that grant a right to use IP and those that grant a right to access IP
Recognize the differences between functional and symbolic IP
Determine when revenue should be recognized for licenses involving functional IP
Identify the timing of revenue recognition disclosures based on ASC 606 guidelines
Recognize required disclosures about contract nature and revenue policies

Highlights

Right to Use vs. Right to Access
Functional IP
Symbolic IP
License Renewals
Revenue Recognition Disclosures
Information about Contracts with Customers
Disaggregation of Revenue
Transaction Price Allocated to the Remaining Performance Obligations
Practices to Avoid

Designed For

Professionals interested in revenue recognition under ASC 606

Prerequisite

None

Advanced Preparation

None