Accounting  |  Format: Flash

Revenue from Contracts with Customers - ASU 2014-09, as Amended (Topic 606)

Course Overview
In this course, you will learn about the revenue guidance issued by the Financial Accounting Standards Board (FASB) - ASU 2014-09 (Topic 606). This guidance impacts nearly every financial statement reporting entity and provides recognition, measurement, presentation and disclosure guidance substantially different from legacy revenue recognition topics.

Learning Objectives
Upon successful completion of this course, you should be able to:

  • Recognize the objective of Topic 606 to establish the principles that a reporting entity must apply to report useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers.
  • Identify the five-step revenue approach described in Topic 606.
  • Identify the increased disclosures in the ASU required for public and non-public reporting entities.

    Catalog Number: 99FLE23-tx-v3
    CPE Credits: 1 Registry / 1 QAS
    Author: John M. Fleming, CPA, MBA
    Advanced Preparation:
    Course Level: Basic
    Field of Study: Accounting
    Content Partner: SmartPros Ltd.
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Windows or Mac OS
    Release/Expiration Dates: May 17, 2019 / May 17, 2021