Courses

Surgent's ASC 606 Insights: Timing of Revenue Recognition & Principal vs. Agent Considerations

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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 distinguishing between recognizing revenue over time versus at a point in time as well as principal versus agent considerations.

Objective

Identify factors that influence the determination of control transfer in a contract
Recognize implications of transferring control over time versus at a specific point in time
Determine the significance of contract terms in assessing when control transfers to a customer
Identify key factors that determine whether an entity acts as a principal or an agent
Recognize best practices for conducting principal vs. agent evaluations

Highlights

Measuring Progress
Output Methods
Input Methods
Factors Supporting Principal Conclusion
Factors Supporting Agent Conclusion
Mixed Conclusion (Both Principal and Agent)

Designed For

Professionals interested in revenue recognition under ASC 606

Prerequisite

None

Advanced Preparation

None