Revenue From Contracts With Customers

Tags: IFRS

Shedding light to practical application issues

Last updated 2022-01-10 | 3.7

- All about newly introduced Revenue Standard - IFRS 15 and ASC 606.

What you'll learn

All about newly introduced Revenue Standard - IFRS 15 and ASC 606.

* Requirements

* No course requirements of prerequisites

Description

This course explains and provides deeper insight into the new revenue standard, namely, "Revenue from Contracts with Customers" issued jointly by IASB and FASB as IFRS 15 and ASC 606, respectively.  Delivered in a fun, user-friendly and animated video format, the complex subject becomes interesting and clear as students progress throughout the course content. The course consists of 3 main sections. The first section consisting of 5 lectures devotes each lecture to one of 5 steps of 5 step revenue recognition model. The second section delivers a quite interesting video content explaining accounting entries for types of revenue recognized over time. And the last section is all devoted to practical questions and their solutions, treatment and recognition matters of concern to wider accounting and finance audience, including but not limited to all level of accountants, finance experts and professionals, ACCA and CPA students in their pursuit of revenue topic.

Who this course is for:

  • ACCA students, CPA students, students of various accounting programs, accountants, finance managers, finance directors, CFOs, finance experts

Course content

3 sections • 14 lectures

Identify contracts with customers Preview 38:08

Lecture 1 Quiz

Identify contracts with customers

Identify the separate performance obligations Preview 41:35

Lecture 2 Quiz

Identify performance obligations

Determine the transaction price Preview 31:08

Lecture 3 Quiz

Determine the transaction price

Allocate transaction price to performance obligations Preview 25:24

Lecture 4 Quiz

Allocate transaction price to performance obligations

Recognize revenue when (or as) the performance obligation is Preview 24:25

Lecture 5 Quiz

Recognize revenue when (or as) performance obligation is satisfied

Accounting for revenue Preview 33:53

Lecture 6 Quiz

Accounting for revenue

Practice Questions and Solutions Preview 45:17

Quiz to Lecture 7

Practice Questions and Solutions