1.0 CPE This course provides an overview of the second step in the revenue recognition process - the identification of performance obligations. This includes a discussion of key definitions and considerations along with the detailed accounting guidance from ASC Topic 606. This course incorporates excerpts from the FASB’s basis for conclusions as well as post-implementation information provided by the FASB from its comprehensive Q&A Publication.
Learning Objectives
- Explore and list the five steps involved in the new revenue recognition model.
- Recognize the criteria involved in identifying performance obligations.
- Identify post-implementation issues and considerations provided by the FASB.
Last updated/reviewed: August 15, 2023
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9 Reviews (37 ratings)
Reviews
Anonymous
(Consultant - Controller)
Good course. A few more examples would have made it better, but then again it's only an hour
Anonymous
(disabled)
Very involved course on ASC 606 regarding identifying a performance obligation. The materials reference to FASB's view on certain transactions shows the complexity of revenue recognition and gets one thinking on some complexities companies are faced with. I would recommend this course
Anonymous
(Controller)
Nice review of performance obligations included in the new revenue recognition model. One recommendation is to have more examples.
Kenneth Hopkins
(Senior Financial Analyst at The University of Texas Health Science C..)
Really enjoyed this course. It was a good refresher course and brought up subject matter that I had almost forgot about.
Anonymous
()
Subsequent to the issuance of ASU 2014-09, the FASB has continued to issue various amendments to ASC
Topic 606.
Anonymous
(Partner)
This was a good basic refresher course to help understand how to identify performance obligations.
Anonymous
(Assistant Controller)
This instructor always has good materials. Good refresher on important ASC 606 topics.
Anonymous
()
good update on revenue recognition and performance obligations
Anonymous
(accountant)
The course materials are detailed and well-organized.
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Kelen CamehlCPA, MBA
About Illumeo
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- Phone: 408-400-3993
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