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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: May 14, 2022

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 .
Course Syllabus
COURSE MATERIAL
  PDFRevenue Recognition - How to Identify Performance Obligations
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM