Revenue: Effective Date, Disclosure And Transition & Other Assets And Deferred Costs (Topics 340-40 and 606-10-50)
This course is the final course of a three-course series. The course addresses the remaining topics from ASU 606, Revenue from Contracts with Customers, such as the effective date, disclosure, and transition along with ASU 340-40, Other Assets and Deferred Costs.
Publicly traded companies have now implemented ASC 606, Revenue from Contracts with Customers. All other entities are adopting in their fiscal years beginning after Dec. 15, 2018. Now is the time to ensure you understand the Topic in depth.
This course will help attendees understand ASC 606 by reviewing both examples to best illustrate concepts, and disclosures by reviewing actual disclosures from adopters.
- FASB ASC 606, Revenue from Contracts with Customers
- FASB ASC 340-40, Other Assets and Deferred Costs
- All recently released updates to ASC 606, Revenue from Contracts with Customers
- Explain the objective of disclosure under ASC 606.
- Explain the elections available to nonpublic entities regarding disclosure under ASC 606.
- Illustrate, measure, present and disclose other assets and deferred costs relating to ASU 606.
- Recall the effective date, as revised, for public and nonpublic entities.
- Identify and differentiate between the two methods of transition.
- Review early adopters' financial disclosures.
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.