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Free Download Udemy - Us Gaap Asc 606 Revenue Recognition
Published 11/2024
MP4 | Video: h264, 1920x1080 | Audio: AAC, 44.1 KHz
Language: English | Size: 6.03 GB | Duration: 3h 48m
ASC 606: A Comprehensive Guide to Revenue From Contract With Customers under US GAAP
What you'll learn
Core principles of US GAAP - ASC 606 and its impact on revenue recognition.
How to apply the five-step revenue recognition model.
Methods for identifying Contract with customers, performance obligations, Transaction price, Allocation of transaction price to performance obligation and recog
Techniques for handling variable consideration and timing of revenue recognition.
Special consideration to recognize revenue for long term contracts, installment sales, breakage, franchisee revenues, deferred revenue etc.
Key disclosure requirements for transparency and compliance.
Practical insights. Illustrations, practice questions and industry-specific applications.
By the end, you'll understand ASC 606 essentials for accurate and compliant financial reporting.
Requirements
Accounting background would be desirable, but not a must
Description
ASC 606: A Comprehensive Guide to Revenue From Contract With Customers under US GAAPGain a clear understanding of ASC 606, the US GAAP standard for revenue recognition, and master the essential skills needed for accurate and compliant financial reporting. This course simplifies the complexities of ASC 606 and provides actionable insights for real-world applications.What You'll LearnCore principles of ASC 606 and its impact on financial reporting.The five-step revenue recognition model explained in detail.How to identify contracts, performance obligations, and transaction prices.Methods for allocating transaction prices and recognizing revenue.Techniques to address unique scenarios like variable consideration, deferred revenue, and long-term contracts.Key disclosure requirements for compliance and transparency.Practical applications with examples, practice questions, and industry-specific insights.Course HighlightsThis course is structured into clear, focused modules, covering everything from contract identification to revenue recognition and special cases like installment sales, franchise fees, and breakage. You'll explore advanced topics like disaggregation of revenue, contract assets and liabilities, and principal-agent relationships.Whether you're an accounting professional, a financial analyst, or a business owner, this course provides the knowledge and tools you need to confidently apply ASC 606 in practice. With step-by-step guidance, real-world examples, and practical exercises, you'll leave the course prepared to handle revenue recognition challenges with ease.Enroll now to build your expertise in ASC 606 and advance your financial reporting skills!
Overview
Section 1: Introduction
Lecture 1 US GAAP ASC 606 Overview
Section 2: Step 1 Identification of Contract with Customers
Lecture 2 Step 1 Identification of Contract with Customers
Section 3: Step 1 Practice Question of Step 1 Identification of Contract with Customers
Lecture 3 Step 1 Practice Question of Step 1 Identification of Contract with Customers
Lecture 4 Step 2 Identify Performance Obligations (PO) in the Contract
Section 4: Step 3 Determining the Transaction Price
Lecture 5 Step 3 Determining the Transaction Price
Section 5: Revenue from Long Term Contracts
Lecture 6 Revenue from Long Term Contracts
Section 6: Instalment Sales
Lecture 7 Step 4 Allocation of Transaction Price to the Performance Obligation in the Cont
Section 7: Deferred Revenue
Lecture 8 Deferred Revenue
Section 8: Miscellaneous Topics
Lecture 9 Instalment Sales
Section 9: Breakage
Lecture 10 Breakage
Section 10: Disaggregation of Revenue Analysis
Lecture 11 Disaggregation of Revenue Analysis
Section 11: Franchise Fee Revenue
Lecture 12 Franchise Fee Revenue
Section 12: Non Governmental
Lecture 13 Step 5 Recognize Revenue when the Entity Satisfies a Performance Obligation
Lecture 14 Non Governmental
Lecture 15 Miscellaneous Topics
This course is intended for working professionals as well as students who wish to gain an understanding of US GAAP
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