This course, the last in a three-course series, concentrates on the remaining topics in ASC Topic 606, Revenue from Contracts with Customers, such as disclosures and transition, along with ASC Topic 340-40, Other Assets and Deferred Costs. The course also reviews and discusses pertinent note disclosures from several publicly traded companies across several industries.
Learning Objectives
• Explain the objective of disclosures under ASC Topic 606
• Explain the elections available to nonpublic entities regarding disclosures under ASC Topic 606
• Illustrate, measure, present and disclose other assets and deferred costs relating to ASC Topic 606
• Identify and differentiate between the two methods of transition
• Review excerpts from a selection of public companies' revenue disclosures
Major Topics
• FASB ASC 606, Revenue from Contracts with Customers
• FASB ASC 340-40. Other Assets and Deferred Costs
• All recently released updates to ASC Topic 606
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