Courses

Surgent's Revenue Recognition - U.S. GAAP vs. IFRS - Download

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Member Price: $29.00 Non-Member Price: $44.00

Developer:: SURGENT MCCOY SELF-STUDY CPE, LLC
CPE Credits:: Accounting: 1.00
Fields of Study:: Accounting
Level:: Basic

This course provides an overview of the similarities and key differences between the revenue recognition standards issued by the FASB (ASC Topic 606) and the IASB (IFRS 15). While these standards are materially similar as the regulators worked jointly to issue the new converged standards, there are notable differences that are good to understand. However, this course is not intended to provide an exhaustive discussion of these differences.

Objective

List the key steps in the revenue recognition model
Recognize the applicable U.S. GAAP and IFRS standard with respect to revenue recognition
Identify some of the key differences between ASC Topic 606 and IFRS 15

Highlights

Key principles of Revenue Recognition
Performance obligations in the Contract
Noncash considerations
Presentation of sales taxes
Impairment reversal of capitalized contract costs
Interim disclosures

Designed For

Accounting professionals

Prerequisite

None

Advanced Preparation

None