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ASC 606 – New Revenue Recognition Rules (Latest)

  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL
ASC 606 – New Revenue Recognition Rules (Latest)

2 Credits


Subject Area


Webinar Qualifies For

2 CPE credit of Accounting for all CPAs

2 CPE credit for Certified Management Accountants (CMA)

2 CPE credit for Certified Internal Auditors (CIA)

2 CPE credit for Internal Audit Practitioner (IAP)

2 CPE credit for Qualification in Internal Audit Leadership (QIAL)

2 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

2 CPD credit (Verifiable) for CPA/ABV

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Course Description

The Financial Accounting Standards Board (FASB) amended the rules for revenue recognition in the Accounting Standards Codification (ASC) to add ASC 606: Revenue from Contracts with Customers.

The new revenue recognition standard, ASC 606, outlines a single, comprehensive model for accounting for revenue from customer contracts. For private companies now tasked with ASC 606 implementation, the model supersedes most legacy guidance and fundamentally changes how entities need to think about revenue recognition. It will change the way you, your company, and your clients, recognize revenue by replacing existing US GAAP with new updates.

In this live Accounting CPE webinar, you will be able to learn an in-depth understanding of new standards. In this CPE course, you will learn the requirements for identifying a contract under FASB ASC 606 and know what is the performance obligations required to be performed under FASB ASC 606. You will be able to learn how to determine and allocate transaction prices under FASB ASC 606. What is the 5-step process to recognize the revenue will be defined and other disclosure requirements will be explained in detail.

Major Topics covered in this online CPE webinar:

  • Principles of FASB ASC 606
  • Requirements for identifying a contract under FASB ASC 606
  • The performance obligations under FASB ASC 606
  • Allocating a transaction price under FASB ASC 606
  • The 5-step process for recognizing revenue
  • Disclosure requirements

Learning Objectives

  • To recognize inconsistencies and weaknesses in existing revenue requirements
  • To review the more robust framework for addressing revenue issues
  • To review comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets
  • To apply FASB ASC 606 practically

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Auditors
  • Business Owner
  • Certified Management Accountant
  • Certified Public Accountant
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Director of Accounting
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA