This course provides an overview of the similarities and key differences between the revenue recognition standards issued by the FASB (ASC Topic 606) and the IASB (IFRS 15). While these standards are materially similar as the regulators worked jointly to issue the new converged standards, there are notable differences that are good to understand. However, this course is not intended to provide an exhaustive discussion of these differences.

Learning Objectives
  • Discover and list the key steps in the revenue recognition model.
  • Recognize the applicable U.S. GAAP and IFRS standard with respect to revenue recognition.
  • Identify some of the key differences between ASC Topic 606 and IFRS 15.
Last updated/reviewed: March 9, 2024
6 Reviews (41 ratings)

Reviews

4
Anonymous Author
Solid review and final exam questions. I am glad to have the text document as well for reference later. The examples within the text document are helpful
5
Anonymous Author
Good course on the differences between GAAP and IFRS, a lot of detail that is important in the accounting.
5
Member's Profile
This was also a good course. The Course Material was easily laid out in order for one to follow.
5
Anonymous Author
Nice overview of the some of the differences between US GAAP and IFRS as related to rev rec.
4
Anonymous Author
learned to identify some of the key differences between ASC Topic 606 and IFRS 15.
5
Member's Profile
Great course! I learned a lot and look forward to more courses from you.
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 - U.S. GAAP vs. IFRS (Text Based Course)PDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam