Surgent's ASC 606 Insights: Contract Identification and Performance Obligations

Course Details

Date

Thursday, May 1, 2025 – Thursday, April 30, 2026

Field of Study

Accounting

Course Number

SU0138

CPE Credit

2.0 hours CPE credit

Vendor

Surgent McCoy CPE, LLC

Prerequisites

None

Description

This course provides an overview of critical challenges companies encounter under ASC 606, emphasizing several key areas that can be particularly challenging for effective revenue recognition. This includes identifying valid contracts and determining performance obligations.

Highlights

  • Types of performance obligations
  • Bundled offerings
  • Customizations
  • Modifications to product specifications
  • Requests for additional services
  • Enforceability and payment terms

Objectives

  • Identify the criteria for contract validity under ASC 606
  • Recognize complexities in multiple contracts with the same customer
  • Determine the effects of contract modifications on revenue recognition
  • Differentiate between contract cancellations and terminations
  • Identify distinct performance obligations within contracts under ASC 606
  • Recognize the criteria for determining if goods or services are separately identifiable
  • Differentiate between bundled offerings and individual performance obligations
  • Determine the impact of customization on performance obligations in contracts
  • Recognize the impact of changes in customer requirements on performance obligations

Designed For

Professionals interested in revenue recognition considerations under ASC 606

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$49.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$99.00
Your Price $99.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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