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2 CPE

Surgent's ASC 606 Insights: Timing of Revenue Recognition & Principal vs. Agent Considerations

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 distinguishing between recognizing revenue over time versus at a point in time as well as principal versus agent considerations.

Learning Objectives

  • Identify factors that influence the determination of control transfer in a contract
  • Recognize implications of transferring control over time versus at a specific point in time
  • Determine the significance of contract terms in assessing when control transfers to a customer
  • Identify key factors that determine whether an entity acts as a principal or an agent
  • Recognize best practices for conducting principal vs. agent evaluations

Major Topics

  • Measuring Progress
  • Output Methods
  • Input Methods
  • Factors Supporting Principal Conclusion
  • Factors Supporting Agent Conclusion
  • Mixed Conclusion (Both Principal and Agent) 

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 revenue recognition under ASC 606

Provider

Surgent CPE

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