This course provides a clear and practical overview of two essential accounting standards: ASC 606 on revenue recognition and ASC 842 on lease accounting. Participants will learn the five-step model for recognizing revenue, including identifying contracts, measuring transaction prices, and allocating those prices to performance obligations. The course also covers key topics such as determining when a contract exists, accurately measuring transaction prices, and presenting and disclosing contract assets and liabilities. Additionally, the course explains how to identify and classify leases, as well as the initial and subsequent measurement of leases. Presentation and disclosure requirements for leases are also included, providing participants with a solid understanding of these important standards.

Learning Objectives
Upon completion of this course, you will be able to:
•    List the five steps involved in the revenue recognition model
•    Recognize the considerations involved in identifying whether a contract exists
•    Identify the considerations involved with measuring the transaction price
•    Recognize the steps involved in allocating the transaction price to performance obligations
•    Identify presentation issues with respect to contract assets and contract liabilities
•    Understand the overall disclosure requirements

To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. 

A course evaluation form is provided for your feedback, upon course completion. Participants have 1 year from the date of purchase/enrollment to complete this course 

Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/