Surgent's ASC 606 Insights: Contract Identification and Performance Obligations (2 hours)

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Overview

This course provides an overview of critical challenges companies encounter under ASC 606, emphasizing several key areas that can be particularly challenging for effective revenue recognition. This includes identifying valid contracts and determining performance obligations.

Highlights

Types of performance obligations
Bundled offerings
Customizations
Modifications to product specifications
Requests for additional services
Enforceability and payment terms

Prerequisites

None

Designed For

Professionals interested in revenue recognition considerations under ASC 606

Objectives

Identify the criteria for contract validity under ASC 606
Recognize complexities in multiple contracts with the same customer
Determine the effects of contract modifications on revenue recognition
Differentiate between contract cancellations and terminations
Identify distinct performance obligations within contracts under ASC 606
Recognize the criteria for determining if goods or services are separately identifiable
Differentiate between bundled offerings and individual performance obligations
Determine the impact of customization on performance obligations in contracts
Recognize the impact of changes in customer requirements on performance obligations

Notice

“Adding to Calendar” does not register you for this event. Please either register online by clicking “Add to Cart” or contacting OSCPA at 503-641-7200 / 800-255-1470, ext. 3. Thank you!