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
* Requirements
* No course requirements of prerequisitesDescription
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