AICPA Town Hall Series (11/6/2025)

Description

Mastering revenue recognition

It's crucial to know the key principles of revenue recognition to recognize revenue effectively. You'll gain an understanding of these key principles by exploring the five-step revenue recognition process.

You'll learn more about:

Identifying a customer contract Determining performance obligations Establishing a transaction price Allocating the transaction price Recognizing revenue

Fulfilling performance obligations

Enhancing financial acumen through practical management strategies and real-world examples can significantly improve your organization's ability to excel in revenue recognition practices.

You'll cover several aspects of performance obligations, including:
Identifying distinct goods and services Implications of promised goods Complexities associated with shipping and handling activities

Highlights

Revenue recognition overview Identifying the contract with a customer and performance obligations Transaction price

Objectives

  • Identify principles and requirements of revenue recognition.
  • Identify requirements for identifying a contract with a customer.
  • Determine performance obligations.
  • Identify requirements for determining and allocating a transaction price.
  • Identify special considerations for implementing FASB ASC 606 and FASB ASC 340-40.
  • Identify financial accounting and reporting requirements.

Designed For

Accountants in public practice, industry and academia who need an update on the latest revenue recognition guidance