Special Considerations under Revenue Recognition

In addition to learning about special considerations in this webcast, you will learn the requirements for recognizing incremental costs of obtaining a contract with a customer in accordance with FASB ASC 340-40, Other Assets and Deferred Costs - Contracts with Customers.

Learning Objectives

Identify when revenue associated with a license is recognized at a point in time or over time under FASB ASC 606
Identify when a warranty represents a separate performance obligation or a guarantee under FASB ASC 606
Identify the difference between an entity acting as a principal and an agent in a transaction with a customer under FASB ASC 606
Identify requirements for recognizing incremental costs of obtaining a contract with a customer in accordance with FASB ASC 340-40

Major Topics

Licensing
Warranties
principal versus agent
Incremental costs of obtaining a contract with a customer

CPE Credits Available

Total CPE

1: Accounting & Auditing

Things to Know About This Course

Course Level

Intermediate

Prerequisites

Experience in the application of accounting standards

Intended Audience

Accountants and finance professionals in public practice, industry, and academia who need an update on the latest revenue recognition guidance