Revenue Recognition Certification

A comprehensive ASC 606 revenue recognition program

This certificate is designed to provide professionals the required understanding and insight into adequately complying with ASC 606 (Topic 606) “Recognize Revenue from Contracts with Customers”. The certificate courses utilize extensive examples to facilitate learning and allow the professional to practice their skills related to the five-step model. There are six separate courses that are specifically dedicated to practicing your knowledge and applying it to case scenarios specific to each step.

The new standard became effective December 2017 and it is critical companies properly re-evaluate their current revenue recognition process to ensure they are in alignment with the new standard and the five-step model as follows:

•Step One: Identify the contract with the customer
•Step Two: Determine performance obligations
•Step Three: Determine the transaction price
•Step Four: Allocate the transaction price to performance obligations
•Step Five: Recognize revenue

At the surface, the five steps seem simplistic. However, there are many considerations that should be considered within each step based on your process and industry. Transaction and industry specific revenue recognition guidance is eliminated. It is replaced with a principle-based approach for determining revenue recognition. The new standard requires significantly more disclosure than previous generally accepted accounting principles (GAAP).

The standard affects all entities (public, private, and not-for-profit) that have contracts with customers. Exclusions include:

•Leases accounted for under ASC 840, Leases;
•Insurance contracts accounted for under FASB ASC 944, Financial Services—Insurance;
•Most financial instruments and guarantees (other than product or service warranties).

Instructor for this course

17 Courses

Purchase Certification

Price for Subscribers: $599.00
if you have a subscription

Purchase Certification

Price for Subscribers: $599.00
if you have a subscription

Completion Award

Revenue Recognition Certification
Revenue Recognition Certification


Certification overview video
Revenue Recognition Certification Flyer
This free flyer gives a quick breakdown of the certificationGet the flyer
no registration required
Duration: 29 Hours

Requirements: There are no prerequisites required for this certificate.

Method: Online, anytime, any device

Testing: Unlimited online attempts of exams at end of each course. Must pass each course with a score of 70% or better to receive certification. Tests are online and not proctored.


Why should I be Illumeo Certified?

In short, you would do this to get better at what you already do, or to get a significant knowledge jump on something you want to do for a living. And, via the certificate itself, to be able to show others that you have attained this knowledge.

Why should I hire a Professional with an Illumeo Certification?

You would hire this Professional because they bring deep knowledge, on concrete topics, to your team. Simply completing the Illumeo certification denotes that the person is a serious professional willing to take the time to become very good at what they do, and that they put in the time, passed the tests, and are knowledgeable in their area of certification.

What happens if I fail the exam?

There is an exam for every course and you must pass every one in order to receive your certification. You may re-study the content and re-take any exam until you pass it.

Why would I want a subscription on Illumeo?

A subscription to Illumeo helps fill out your professional knowledge with its unfettered access to hundreds of up-to-date on demand courses taught by long-time practitioners - just like the instructor of this certification program.