Revenue Recognition (ASC Topic 606): Case Scenarios For Performance Obligations 2 Credits
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This CPE course is dedicated to Step Two of the revenue recognition model “Identify Performance Obligations”. Previous courses have outlined each of the individual five steps of the model and provided case examples. We have also developed two broad case study courses that cover scenario examples for each of the five steps.
To focus directly on aspects within each step, we are creating individual courses with multiple case scenarios that apply to the individual given steps.
This CPE Accounting webinar applies to Step Two – Identify Performance Obligations and includes the many considerations companies must take into account when identifying how many performance obligations may exist.
It will further review the concepts of distinct vs. non-distinct goods and services as well as goods and services that are distinct within the context of the contract. It will also cover the concept of a performance obligation representing a material offer and how that should be accounted for.
Key Topics discussed in this course:
After taking this online CPE webinar by Lynn Fountain, you should be able to effectively apply your understanding of Step Two of the revenue recognition model to specific scenarios within your business. Each learning objective listed utilizes separate examples from various industries to help interpret and practice the concept.
Have a look at the Revenue Recognition Certificate Course, which we
have on our website authored by Lynn Fountain.
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Pre-requisites
Advance Preparation
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Lynn Fountain has over 39 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing and risk management. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Lynn has held two Chief Audit Executive (CAE) positions for international companies. In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees. The fraud was formally investigation by the FBI and resulted in 5 indictments estimating a $13M fraud loss.
Ms. Fountain is currently engaged in her own consulting and training practice. She has successfully executed on several consulting assignments spanning areas of accounting, risk, ERM and internal audit. She is a highly sought-after trainer and international speaker and has produced hundreds of courses delivered through seminars, conferences and on-demand training. She is the author of three separate technical books.
Ms.
Fountain obtained her BSBA from Pittsburg State University and her MBA from
Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials.
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To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.
Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
BC
I thought Lynn gave very clear examples of the ASC 606 concepts related to Performance Obligations. She chose revenue scenarios that the learner was familiar with so we could focus on the accounting concept instead of wasting time trying to understand the revenue scenario. I look forward to watching additional webcasts.
CS
It was a great relevant presentation for me
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