- TX Credits : 0.2
Topic 606 moved revenue recognition from the earned and realized model to a 5 step process tied to transfer of control. Step 5 of this model looks at recognition of revenue. The entity must determine in step 5 if control is transferred at a point in time or over time in meeting the performance obligations. This course looks at step 5 and the determination of when to recognize revenue.
Thomson Reuters is committed to bringing innovative solutions to you, now including nano-learning! As per NASBA Standards, a nano-learning course is a 10-minute, electronic, self-study course in which you are eligible to earn 1/5 (or 0.2) CPE credits.
At this time, nano-learning is not accepted by all state boards. If you are not sure whether your state board accepts nano-learning, you can ask your state board or visit the NASBA registry: (nasbaregistry.org).
Upon successful completion of this course, the user should be able to:
determine when and how control is transferred and revenue is recognized.