Revenue: ASC Topic 606 in Depth 2024

Overview

This course provides in-depth coverage of ASC Topic 606, Revenue from Contracts with Customers. Since ASC Topic 606, Revenue from Contracts with Customers has now been adopted by most entities, it is time to review the topic, including any recently issued updates. Excerpts from publicly traded companies’ recent disclosures on Revenue are also reviewed and discussed.

Highlights

• FASB ASC 606, Revenue from Contracts with Customers • FASB ASC 340-40, Other Assets and Deferred Costs • All recently released updates to FASB ASC 606, Revenue from Contracts with Customers

Prerequisites

None

Designed For

CPAs, auditors, consultants, and financial and management professionals.

Objectives

• Identify how to report the treatment of revenue from contracts with customers (ASC Topic 606), with examples drawn from the illustrative guide • Identify recently released updates to ASC Topic 606 • Explain the elections available to nonpublic entities regarding disclosure under ASC Topic 606 • Illustrate, measure, present and disclose other assets and deferred costs relating to ASC Topic 606 • Review excerpts from a selection of public companies’ revenue disclosures

Preparation

None