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Revenue Recognition (ASC Topic 606): Case Scenarios For Transaction Price 2 Credits

Revenue Recognition (ASC Topic 606): Case Scenarios For Transaction Price 2 Credits

  • Rating

    4.5
  • Reviewed on

    February, 2024
  • Subject Area

    Accounting

Learning mode

On Demand
  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Attend the live interactive session
  • Answer the polling questions
  • Get your certificate

Learning Objective

  • To explore the concepts that contribute to the transaction price.
  • To identify considerations when evaluating transaction price.
  • To discuss the concepts of variable consideration.
  • To examine methods to determine variable consideration.
  • To explore the concept of variability constraints.
  • To know what constitutes implied variability.
  • To take in non-cash considerations.
  • To evaluate price concessions.
  • To discuss significant financing components.
  • To explore volume discounts.

Course Overview

This CPE webinar is dedicated to Step Three of the revenue recognition model “Determine the Transaction Price”. 

Previous CPE 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, individual courses have been created with multiple case scenarios that apply to the individual given steps.  

This CPE Accounting course applies to Step Three – Determine the Transaction Price. It includes the many considerations companies must consider when determining the amount of consideration that should be included within the transaction price.

We review the concepts of variable compensation, explicit and distinct variability, consideration constraints, discounts, price concessions, and other elements that can impact how transaction price is determined and when it is recognized.

After taking this CPE webinar by Lynn Fountain you should be able to effectively apply your understanding of Step Three of the revenue recognition model to specific scenarios within your business. Each learning objective listed utilizes multiple examples from various industries to help interpret and practice the concept.

Have a look at Revenue Recognition Certificate Course, we have on our website authored by Lynn Fountain.

On Demand Credits for All Qualifications

Nano Credits for All Qualifications

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 2 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 2 CPE Eligible
Financial Reporting for Certified Management Accountants (CMA) 2 CPE Eligible
Accounting for Chartered Financial Analyst (CFA) 2 PL Eligible
Accounting for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Eligible
Accounting for Certified Government Financial Manager (CGFM) 2 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 2 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 2 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 2 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 2 CPE Eligible
Accounting for Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Accounting for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Eligible
Accounting for Maine Licensed Public Accountant (ME-LPA) 2 CPE Eligible
Accounting for CIPM 2 PL Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 2 CE Eligible
License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 2 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 2 CPE Eligible
Financial Reporting for Certified Management Accountants (CMA) 2 CPE Eligible
Accounting for Chartered Financial Analyst (CFA) 2 PL Eligible
Accounting for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Eligible
Accounting for Certified Government Financial Manager (CGFM) 2 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 2 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 2 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 2 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 2 CPE Eligible
Accounting for Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Accounting for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Eligible
Accounting for Maine Licensed Public Accountant (ME-LPA) 2 CPE Eligible
Accounting for CIPM 2 PL Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 2 CE Eligible
License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 2 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 2 CPE Eligible
Financial Reporting for Certified Management Accountants (CMA) 2 CPE Eligible
Accounting for Chartered Financial Analyst (CFA) 2 PL Eligible
Accounting for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Eligible
Accounting for Certified Government Financial Manager (CGFM) 2 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 2 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 2 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 2 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 2 CPE Eligible
Accounting for Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Accounting for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Eligible
Accounting for Maine Licensed Public Accountant (ME-LPA) 2 CPE Eligible
Accounting for CIPM 2 PL Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 2 CE Eligible

Additional Information

Credits

2

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Advance Your Career with Lynn Fountain's CE/CPE/CPD Webinars
Lynn Fountain , CRMA

Owner, Lynn Fountain Consulting and Training

  • 4.5
  • rating
  • rating
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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.  

  • Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations”.
  • Leading the Internal Audit Function
  • Ethics and the Internal Auditor’s Dilemma

Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials. 


On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course 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.

How are credits reported to governing bodies?

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.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

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.

Are the live webinars approved by NASBA and other regulatory bodies?

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.

What are the requirements to maintain compliance with live webinar courses?

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.

How can I access my webinar completion certificates?

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.

How are credits reported to governing bodies?

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.

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