Revenue Recognition Topic 606 - Identify Performance Obligations Part 2
Total Credits: 1.4 including 1.4 Accounting - Technical
- Average Rating:
- Not yet rated
- Categories:
- ACPEN Industry Institute | Accounting and Auditing
- Faculty:
- Lynn Fountain
- Course Levels:
- Intermediate
- Duration:
- 1.4 Hours
- License:
- Product Setting: Expires 30 day(s) after program date.
Description
Properly identifying performance obligations is a critical step in the five-step revenue recognition model. It is a step that must be completed at the inception of the contract and prior to moving on to step three of the model. As discussed in segment one on performance obligations, there are many types and variations of obligations and as such, management will be required to utilize significant judgment when applying this step. However, it is important that the judgment be supported by considerations of the proper factors.
The course further evaluates areas that impact performance obligations. We utilize multiple examples from various industries to illustrate the considerations that must be evaluated in line with both identifying performance obligations and allocating the transaction price appropriately.
Basic Course Information
Learning ObjectivesExplore the concept of revenue recognition related to performance obligations that may involve components such as:
- Options to purchase additional goods/services
- Identifying material rights
- Shipping and handling charges
Identify and examine factors impacting performance obligations including:
- Principal vs. agent status
- Warranties
- Options for additional goods and services
- Non-refundable up-front fees
- Stand-ready obligations
- Rights of returns
Major Subjects
- Revenue Recognition
- Accounting
Course Materials
| Important CPE Credit Instructions_READ BEFORE WEBCAST UPDATED (442.7 KB) | Available after Purchase | ||
| Revenue Recognition Topic 606 Contract with Customers - Identify the Contract Part 2 Handout (1.1 MB) | Available after Purchase | ||
Faculty
Lynn Fountain Related Seminars and Products
Lynn Fountain has over 45 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing and risk management. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Lynn has held two Chief Audit Executive (CAE) positions for international companies. In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees. The fraud was formally investigation by the FBI and resulted in 5 indictments estimating a $13M fraud loss.Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials.
Dates
|
Fri, Feb 28, 2025 - 11:00am to 12:18pm EST
|
|
Fri, Mar 07, 2025 - 01:00pm to 02:18pm EST
|
|
Sat, Mar 22, 2025 - 03:00pm to 04:18pm EDT
|
|
Tue, Apr 08, 2025 - 05:00pm to 06:18pm EDT
|
|
Fri, Apr 25, 2025 - 09:00am to 10:18am EDT
|
|
Fri, May 02, 2025 - 11:00am to 12:18pm EDT
|
|
Thu, May 22, 2025 - 01:00pm to 02:18pm EDT
|
|
Thu, Jun 05, 2025 - 03:00pm to 04:18pm EDT
|
|
Wed, Jun 25, 2025 - 05:00pm to 06:18pm EDT
|
|
Thu, Jul 03, 2025 - 09:00am to 10:18am EDT
|
|
Mon, Jul 21, 2025 - 11:00am to 12:18pm EDT
|
|
Mon, Aug 04, 2025 - 01:00pm to 02:18pm EDT
|
|
Thu, Aug 21, 2025 - 03:00pm to 04:18pm EDT
|
|
Mon, Sep 08, 2025 - 05:00pm to 06:18pm EDT
|
|
Thu, Sep 18, 2025 - 09:00am to 10:18am EDT
|
|
Tue, Oct 07, 2025 - 11:00am to 12:18pm EDT
|
|
Fri, Oct 17, 2025 - 01:00pm to 02:18pm EDT
|
|
Tue, Nov 04, 2025 - 03:00pm to 04:18pm EST
|
|
Mon, Nov 17, 2025 - 05:00pm to 06:18pm EST
|
|
Fri, Dec 05, 2025 - 09:00am to 10:18am EST
|
|
Wed, Dec 17, 2025 - 11:00am to 12:18pm EST
|
|
Mon, Jan 05, 2026 - 01:00pm to 02:18pm EST
|
|
Thu, Jan 22, 2026 - 03:00pm to 04:18pm EST
|
|
Wed, Feb 11, 2026 - 05:00pm to 06:18pm EST
|
|
Mon, Feb 23, 2026 - 09:00am to 10:18am EST
|
|
Fri, Mar 06, 2026 - 11:00am to 12:18pm EST
|
|
Tue, Mar 24, 2026 - 01:00pm to 02:18pm EDT
|
|
Thu, Apr 02, 2026 - 03:00pm to 04:18pm EDT
|
|
Wed, Apr 22, 2026 - 05:00pm to 06:18pm EDT
|
|
Mon, May 04, 2026 - 09:00am to 10:18am EDT
|
|
Wed, May 27, 2026 - 11:00am to 12:18pm EDT
|
|
Tue, Jun 02, 2026 - 01:00pm to 02:18pm EDT
|
|
Mon, Jun 22, 2026 - 03:00pm to 04:18pm EDT
|
Additional Info
Basic Course Information
Prerequisites Suggested- Revenue Recognition Topic 606 - Identify Performance Obligations Part 1Advanced Preparation None
Designed For
Accountants, Finance Professionals, Auditors, Internal Auditors
Original Recording Date 2/2025
Yellow Book No
Course Developer Lynn Fountain, CPA, CGMA, CRMA, cPIA, MBA
Date Added to Catalog 02/2025
Additional Information
Complaint Resolution PolicyPlease contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement
Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Instructional Delivery Method
Group Internet Based
Course Registration Requirements
Online Registration
Refund/Cancellation Policy
Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.