Checkpoint Learning

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Revenue Recognition: Fundamentals  

CATEGORY: Accounting & Auditing
Online & Mobile, Download
2 CPE Credits
Level: Basic

You will develop a basic understanding of revenue recognition methods commonly used in various industries. This course discusses revenue recognition principles, including the difference between the terms recognized and realized, timing, measurement, and persuasive evidence. In addition, we will look at how the principles of revenue recognition apply under special circumstances, such as sales with a right of return, sales with buyback agreements, franchises, long-term construction contracts, and transactions with multiple deliverables. Additionally, the FASB's recently converged standard on revenue recognition will be discussed along with amendments. You will obtain an understanding of the software revenue recognition methods in ASC 985-605 and be able to relate them to SEC Topic 13.

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