Revenue Recognition Fundamentals

KPMG Executive Education

KPMG Executive Education

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About the course

ASC Topic 606 / IFRS 15, Revenue from Contracts with Customers, has significantly impacted many companies upon adoption. A single 5-step model for all transactions and all industries! Whether you report under U.S. GAAP or IFRS, this 1-day course, provides you with the necessary information to gain a fundamental understanding of how and when revenue is to be recognized. Discussion-based scenarios and other group activities highlight significant challenges and application issues requiring consideration by companies applying the standard.

Topics Covered Include:

  • Overview of the New Standard
    • Core principal and 5-step model
    • Scope
    • Effective dates
    • Industry impacts
  • Walkthrough of the 5-step Model
    • Step 1: Identify the contract with a customer
    • Step 2: Identify the performance obligations in the contract
    • Step 3: Determine the transaction price
    • Step 4: Allocate the transaction price to the performance obligations in the contract
    • Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation
  • Other Issues and Considerations
    • Contract modifications
    • Material rights
    • Principal vs. agent considerations
    • Contract costs
    • Licensing arrangements
    • And more...
  • Disclosures
    • Learning from initial adopters
    • Disclosure requirements, including non-public entity elections

Videos and materials

Revenue Recognition Fundamentals at KPMG Executive Education

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

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