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2 CPE

Surgent's ASC 606 Insights: Managing Variable Consideration and Modifications

This is a text-based course

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2 CPE

This is a text-based course. To receive credit, you are required to review all content and achieve a minimum score of 70% on the final exam.

This course provides an overview of critical challenges companies encounter under ASC 606, emphasizing several key areas that can be particularly challenging for effective revenue recognition. This includes considerations relating to variable consideration and accounting for contract modifications. This course also addresses the accounting considerations related to significant financing components.

Learning Objectives

  • Recognize the importance of accurate estimation of variable payments for revenue recognition
  • Determine the effects of contract modifications on revenue recognition
  • Determine appropriate methods for estimating uncertain payment amounts
  • Distinguish between contracts with and without significant financing components
  • Select the appropriate revenue recognition method for a contract modification

Major Topics

  • Modifications to product specifications
  • Requests for additional services
  • Alterations in delivery timelines
  • Constraining estimates
  • Different types of variable payments in contracts, including discounts, rebates, and bonuses

CPE Credits Available

2 CPE
2
Accounting

Things to Know About This Course

Professional Area of Focus

  • Accounting & Auditing

Prerequisites

None

Advanced Preparation

None

Intended Audience

Professionals interested in challenges to revenue recognition under ASC 606

Provider

Surgent CPE

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