Revenue Recognition Certification

Gaap and replaces it with a principles based approach.

Revenue recognition certification. Revenue recognition certification a comprehensive asc 606 revenue recognition program this certificate is designed to provide professionals the required understanding and insight into adequately complying with asc 606 topic 606 recognize revenue from contracts with customers. Revenue recognition is an accounting principle that outlines the specific conditions under which revenuesales revenuesales revenue is the starting point of the income statement. In addition registrants of revenue recognition fundamentals will receive a 50 discount on the remaining courses within the revenue from contracts with customers web based training series. Revenue recognition cpe that is up to date with the new guidelines stay on top of the new revenue recognition guidelines with our online cpe courses.

A contract may contain one or more performance obligations. The issuance of the new standard for revenue recognition finally happened in may 2014 and will replace the current guidance in us gaap and ifrs for revenue recognition at the end of 2017 for public filers and at the end of 2018 for private companies with early adoption available. Revenue recognition the financial accounting standards boards fasb accounting standard on revenue recognition fasb asu 2014 09 eliminates the transaction and industry specific guidance under current us. Revenue recognition brings clarity to the topic by focusing on topic 606 revenue from contracts with customers which describes the five step process for recognizing many types of revenue.

8 this cpe course will provide you with an in depth understanding of the framework for revenue recognition built around the core principle that is applied in a five step process. Although defined differently the closest analogy in todays vernacular to a performance obligation would be a deliverable under the multiple element arrangement revenue guidance. Instructions for redeeming this offer will be provided in the registration confirmation email that you will receive upon registering for the course. The professional revenue cycle certification validates the knowledge and skills possessed by a competent mid level revenue cycle supervisor or manager.

Sales or revenue is the money earned from the company providing its goods or services income is recognized. Mastering the new fasb requirements recommended cpe credit. The unit of account for revenue recognition under the new standard is a performance obligation a good or service. The guidance is already in effect for public companies.