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1 CPE

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

This is a text-based course

Text
1 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 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.

Learning Objectives

  • 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

Major Topics

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

CPE Credits Available

1 CPE
1
Accounting

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • Accounting & Auditing

Prerequisites

None

Advanced Preparation

None

Intended Audience

Accounting professionals

Provider

Surgent CPE

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