2 CPE This course 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.
Learning Objectives
- Identify and list the five steps involved in the revenue recognition model.
- Recognize the considerations involved in identifying whether a contract exists.
- Identify the considerations involved with measuring the transaction price.
- Recognize the steps involved in allocating the transaction price to performance obligations.
Last updated/reviewed: March 6, 2025
30 Reviews (126 ratings)
Reviews
Anonymous
()
This course provides an overview of the revenue recognition standards prescribed by the Financial Accounting
Standards Board (FASB) in ASC Topic 606. This course focuses specifically on the five-step model for revenue
recognition including identifying a contract, identifying performance obligation, determining the transaction
price, allocating the transaction price to performance obligations, and recognizing revenue.
Anonymous
()
Good, efficient course. I really like the text-based courses; the materials were thorough and I was able to gain a full understanding of the five step process to revenue recognition. The materials were well written and easily understandable as well.
Anonymous
(Executive Director, Corporate Controller)
A pretty good summary of the new revenue recognition, ASC 606's 5-steps process. It covers most of the important points in only 29 pages course material as compared to many more pages of related guidance form big 4 accounting firms.
Anonymous
(Accountant)
This was my first course on illumeo and I was not expecting it to be PDF. But really enjoyed reading through it at my own pace and going back and reviewing areas I wasn't 100% confident on.
Anonymous
(cpa)
Excellent text-based summary of revenue recognition standard. I would say that it is easier to consume the information if one has had at least some prior exposure to the subject.
JIN ZOU
(Senior Accountant at STS Traders)
Very easy to follow. I need to study this subject for work and was happy to find this course. I think it helps me to refresh the concepts I learned in school and apply to work.
Anonymous
(Anonymous)
The course was a great introduction to the 5 steps of revenue recognition. The examples were spot on and would recommend to anyone who is interested in revenue recognition.
Sean Flynn
(Accounting Manager at Rosemawr Management)
My first text course, and I enjoyed it more than I thought I would. Well written and thorough, it's good material that I will use almost immediately in practice.
Anonymous
(CPA)
This course was pretty straightforward and easy to follow. This was the first text-based course I’ve done. The test questions corresponded well to the text.
Ross Connor
( at HVAC Incorporated)
I like the written courses. Mr. Camehl does a great job of putting together great documents to draw upon and glean necessary information from.
Anonymous
()
Great course - really challenged me to think back through the 606 model and how the steps apply to different fact patterns. Such fun.
Anonymous
(Internal Audit)
Thank you for a great course on the new revenue recognition standards. It is nice having everything in an easy to reference PDF.
Anonymous
()
Very detailed course. I am happy I took it, as I learned a lot about a topic that I thought I already understood.
Anonymous
(Sr Financial Reporting Analyst)
Outstanding coverage of the ASC 606 topic. Comprehensive, well laid-out and easy to follow. Highly recommended.
Anonymous
()
Thank you for this helpful overview of the five steps of revenue recognition. This helped me test my knowledge.
Anonymous
(Director of Finance)
Includes a well crafted supporting pdf. Sufficient to address the complexities of construction contracting.
christina sparano
( at blockchain.com)
Very easy to follow. I have to analyze revenue recognition policies for work and am going to use the guide
Anonymous
(Accounting Manager)
Very great high level overview of the new revenue recognition standards. Highly recommend this course.
Joe DeFelice
(Consultant - Controller at DLC Group)
Good overview
Anonymous
()
Additional good information, concisely written on this complex topic. Presented well.
Anonymous
(Senior Accounting Spec)
A very thorough and well-explained review of the concepts involved in the process.
Anonymous
(Senior Financial Analyst)
This was a tough one. The course covered a lot a information, so pay attention.
Anonymous
()
I listed the five steps involved in the new revenue recognition model
Anonymous
(Director, Governance)
Great text class - very thorough materials that are easy to follow.
Anonymous
(Senior Revenue Manager)
I enjoyed the course, and found the information very informative.
Anonymous
(accountant)
The materials are clearly structured with detailed explanations.
Anonymous
(CFO)
Nice Compact overview for refreshing my knowledge base.
Anonymous
()
I really liked the text based format of this course.
Maddison Lopez
(Finance Manager at KB Home)
This is good material and final exam for CPE credit.
Anonymous
()
Good starting course on revenue recognition basics.
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
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