Course ID: CL2TRP

Revenue Recognition: Determining and Allocating the Transaction Price

This course addresses steps three and four in the five-step process for revenue recognition under FASB ASC 606, Revenue from Contracts with Customers. Step 3 deals with determining the transaction price, including refund liabilities, variable consideration, and accounting policy elections. Step 4 deals with allocating the transaction price to performance obligations in the contract including stand-alone selling prices, allocation of a discount and changes in the transaction price.


Learning Objectives

• Recognize requirements for determining a transaction price.
• Recognize requirements for allocating a transaction price.


Major Topics

• Steps 3 and 4 in the process for revenue recognition, determining the transaction price and allocating the transaction price to performance obligations in the contract


Advanced Preparations

None


Who Should Attend

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


Prerequisites

Experience in the application of accounting standards


Provider
AICPA-CIMA

CPE Credits
2

Level
Intermediate

This course is available for your group as:

 

Let's Roll!

To learn more or customize this course for your group, complete this form and a BLI team member will get back with you shortly.


Or, contact BLI: 888-481-3500 or team@blionline.org
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