Revenue: Special Implementation Guide (Topic 606-10-55)
This course, second in a three-course series, concentrates on the ASU 606, Revenue from Contracts with Customers.
Now is the time to get serious about adoption of ASC 606, Revenue from Contracts with Customers. Address the topics in the Special Implementation Guide, ASU 606-10-55.
With the issuance of a final standard—ASC 606, Revenue from Contracts with Customers—public companies have an implementation date after Dec. 15, 2017, and non-public companies, Dec. 15, 2018 (as amended).
- FASB ASC 606, Revenue from Contracts with Customers
- All recently released updates to ASC 606, Revenue from Contracts with Customers
- Outline several of the special issues addressed in ASC 606-10-55.
- Describe the different methods of measuring progress toward complete satisfaction of a performance obligation.
- Explain the accounting treatment of warranties where the customer has no option to purchase the warranty separately.
- Explain the underlying criteria in customer options for additional goods or services.
- Explain the accounting treatment for customers' unexercised rights.
- List the criteria for a license to be accounted for at a point in time or over time.
- Define a bill-and-hold arrangement.
CPAs, auditors, consultants, and financial and management professionals.
Applicable if you are a HSCPA member in good standing.
Applicable if you are not a HSCPA member.