This course offers a comprehensive overview of the first step in the revenue recognition process: identifying a contract with a customer. It explores key definitions, important considerations, and the detailed accounting guidance outlined in ASC Topic 606.

Learning Objectives
  • Identify and list the five steps involved in the new revenue recognition model.
  • Recognize the overall considerations involved in identifying whether a contract exists.
  • Identify how collectability is assessed to determine whether a contract exists.
Last updated/reviewed: February 12, 2025
13 Reviews (47 ratings)

Reviews

4
Anonymous Author
I enjoyed the course and found the review helpful. The take-away document will be good for future reference and refresher as well.
5
Anonymous Author
Interesting course on contracts and the different accounting methods and considerations one must take when assessing the contracts.
4
Anonymous Author
This is a decent course. There is a better live session course available as well. The time to complete took well over an hour
5
Anonymous Author
The text is an excellent reference material. This is a nice change from streaming a course. Thank you.
4
Anonymous Author
I learn how to recognize the overall considerations involved in identifying whether a contract exists.
4
Anonymous Author
This is a decent course. There is a better live session course available as well.
5
Anonymous Author
This course was easily understood. It was a good overview of the process.
5
Member's Profile
Great course! I learned a lot and will recommend it to my colleagues.
5
Anonymous Author
Good content, interesting & I was able to apply it to my organization.
5
Anonymous Author
Good in depth review of contract assessment within Rev Rec guidance.
5
Anonymous Author
Easy course to follow. It was a nice, quick refresher on the topic.
5
Member's Profile
Interesting topic, complicated. Good overview of the subject.
5
Anonymous Author
The material is well structured with clear explanation.
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Prerequisites
Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview CPE
Course Syllabus
COURSE MATERIAL
  Revenue Recognition Fundamentals - Assessing and Analyzing Contracts (Text Based Course)PDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam