Renee Rampulla - Revenue Recognition

1 Cover

2 Chapter 1: Revenue Recognition - The Need for Change Chapter 1 Revenue Recognition - The Need for Change Learning objectives Identify why the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) initiated a joint project to develop a single principle-based revenue standard. Identify when part or all of a contract with the customer is outside the scope of FASB ASC 606, Revenue from Contracts with Customers. Identify the five core principles described in FASB ASC 606. Learning objectives Background Knowledge check Subsequent developments Scope and scope exceptions The core five principles Knowledge check Effective dates

3 Chapter 2: Identifying The Contract With a CustomerLearning objectives Overview Knowledge check Knowledge check Knowledge check Knowledge check Notes

4 Chapter 3: Identifying The Performance Obligations in the ContractLearning objectives Overview Identifying the performance obligations in the contract Knowledge check Knowledge check

5 Chapter 4: Determining the Transaction PriceLearning objectives Overview Determining the transaction price Knowledge check Knowledge check Knowledge check Knowledge check Knowledge check Note

6 Chapter 5: Allocating the Transaction Price to the Performance Obligations in the ContractLearning objectives Overview Allocating the transaction price to the performance obligations in the contract Estimating the stand-alone selling price Knowledge check Knowledge check Knowledge check Notes

7 Chapter 6: Recognizing Revenue When a Performance Obligation Has been SatisfiedLearning objectives Overview Recognize revenue when (or as) the entity satisfies a performance obligation Knowledge check Knowledge check Knowledge check Notes

8 Chapter 7: Special Considerations Under FASB ASC 606Learning objectives Overview Licensing Recognizing revenue at a point in time or over time Knowledge check Warranties Knowledge check Principal versus agent Knowledge check Incremental costs of obtaining a contract with a customer Knowledge check Repurchase agreements Consignment arrangements Bill-and-hold arrangements Notes

9 Chapter 8: Presentation and Disclosure Requirements Under FASB ASC 606Learning objectives Overview Other presentation matters Knowledge check Disclosures Knowledge check Knowledge check Notes

10 Chapter 9: Transition Guidance and Available ResourcesLearning objectives Transition methods and effective dates Knowledge check Available resources Knowledge check

11 Appendix A: Revenue Recognition Task Force Status of Implementation Issues

12 Chapter 10: A Comparison between IFRS and US GAAPLearning objectives Overview Knowledge check Notes

13 Accounting and Auditing Glossary

14 Index

15 SolutionsChapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10

16 End User License Agreement

1 Cover

2 Table of Contents

3 Begin Reading

1 i

2 ii

3 1-1

4 1-2

5 1-3

6 1-4

7 1-5

8 1-6

9 1-7

10 1-8

11 1-9

12 1-10

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14 2-1

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27 3-1

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136 9-1

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145 A-1

146 A-2

147 A-3

148 A-4

149 A-5

150 A-6

151 A-7

152 A-8

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154 A-10

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165 A-21

166 A-22

167 A-23

168 A-24

169 A-25

170 10-1

171 10-2

172 10-3

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175 10-6

176 10-7

177 Glossary_1

178 Glossary_2

179 Glossary_3

180 Glossary_4

181 Glossary_5

182 Glossary_6

183 Glossary_7

184 Glossary_8

185 Glossary_9

186 Glossary_10

187 Glossary_11

188 Glossary_12

189 Glossary_13

190 Glossary_14

191 Glossary_15

192 Index_1

193 Index_2

194 Index_3

195 Index_4

196 Solution-1

197 Solution-2

198 Solution-3

199 Solution-4

200 Solution-5

201 Solution-6

202 Solution-7

203 Solution-8

204 Solution-9

205 Solution-10

206 Solution-11

207 Solution-12

208 Solution-13

209 Solution-14

210 Solution-15

211 Solution-16

212 Solution-17

213 Solution-18

214 Solution-19

215 Solution-20

216 Solution-21

217 Solution-22

218 Solution-23

219 Solution-24

220 Solution-25

221 Solution-26

222 Solution-27

223 E-1

Notice to readers

Revenue Recognition: Mastering the New F ASB Requirements is intended solely for use in continuing professional education and not as a reference. It does not represent an official position of the American Institute of Certified Public Accountants, and it is distributed with the understanding that the author and publisher are not rendering legal, accounting, or other professional services in the publication. This course is intended to be an overview of the topics discussed within, and the author has made every attempt to verify the completeness and accuracy of the information herein. However, neither the author nor publisher can guarantee the applicability of the information found herein. If legal advice or other expert assistance is required, the services of a competent professional should be sought.

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