FASB's New Revenue Recognition Standard ASC 606
Identify the contract(s) with a customer and performance obligations in the contract. Determine the transaction price, and allocate the transaction price to the performance obligations.
Revenue Recognition: Risks NOT in the New Standard
Find the non-financial risks of revenue manipulation. Recognize where the financial statements are at risk. Link financial and non-financial metrics to minimize malpractice liability.
| Sept. 12
| Oct. 17
Revenue Recognition Standard: Impact on Not-for-Profits
Master FASB's five-step model for implementing the standard.
Revenue Recognition Revisited
Determine when to record a receivable. Distinguish revenue from deferred inflow of resources. Learn how to achieve consistency in financial reporting.