Special Considerations under Revenue Recognition

Description

In addition to learning about special considerations in this webcast, you will learn the requirements for recognizing incremental costs of obtaining a contract with a customer in accordance with FASB ASC 340-40, Other Assets and Deferred Costs - Contracts with Customers.

Highlights

• Licensing
• Warranties
• principal versus agent
• Incremental costs of obtaining a contract with a customer

Objectives

• Identify when revenue associated with a license is recognized at a point in time or over time under FASB ASC 606
• Identify when a warranty represents a separate performance obligation or a guarantee under FASB ASC 606
• Identify the difference between an entity acting as a principal and an agent in a transaction with a customer under FASB ASC 606
• Identify requirements for recognizing incremental costs of obtaining a contract with a customer in accordance with FASB ASC 340-40

Designed For

Accountants and finance professionals in public practice, industry, and academia who need an update on the latest revenue recognition guidance