Revenue Recognition & Leasing – Essential Concepts for Financial Professionals (Text Based Course)

This course combines an in-depth overview of revenue recognition principles under ASC 606 with a comprehensive guide to lease accounting standards under ASC 842. It covers the five-step model for recognizing revenue, including contract identification, transaction price measurement, and allocation to performance obligations. Additionally, it provides insights into lease identification, classification, initial and subsequent measurement, and the presentation and disclosure requirements for leases. Together, these topics equip financial professionals with the knowledge needed to navigate two critical areas of U.S. GAAP.

Chapter 1: Revenue Recognition – Overview

This chapter provides an overview of the revenue recognition principles under ASC 606. It focuses specifically on the five-step model for recognizing revenue, including identifying contracts, measuring transaction prices, and allocating those prices to performance obligations.

Chapter 2: Lease Transactions – Overview

This chapter offers a concise overview of ASC 842 lease accounting standards, covering how to identify and classify leases. It also reviews the initial and subsequent measurement, as well as the presentation and disclosure requirements for leases.