Revenue Recognition Principles: Financial Accounting Guide
What you'll learn
- The course gives a detailed overview on recognizing revenue
- It explains as to how an entity meets the requirements for recognition and measurement, impairment, de-recognition of revenue while maintaining their financials
- learn revenue recognition, their basis of accounting, revenue recognition principle, advances, timing of recognition, various methods to recognize revenue
- This training is in line with the IFRS standards
- In this course, students will gain a deep understanding of Revenue Recognition, covering essential principles, accounting basics, timing of recognition
- Practical examples, and the impact of IFRS 15.
- Dive into revenue recognition methods, explore telecom-specific scenarios, and distinguish between IFRS and US GAAP.
- Master the intricacies of contract modifications, incentives, and the operating cycle.
- This comprehensive program equips learners with the knowledge needed to navigate the nuances of revenue recognition effectively.
Requirements
- Passion to Learn, Interest in finance and accounting, Basic knowledge of accounting terms and concepts
Description
Welcome to "Mastering Revenue Recognition Principles," a comprehensive course designed to deepen your understanding of the intricate world of financial accounting. In this course, we embark on a journey to unravel the complexities surrounding revenue recognition, a cornerstone of financial reporting.
Section 1: Introduction
Our exploration begins with a captivating introduction to the significance of revenue recognition in financial accounting. Through preview-enabled lectures, we offer a sneak peek into the pivotal role revenue recognition plays in shaping accurate financial statements.
Section 2: Basis of Accounting and Revenue Recognition
Delve into the foundational aspects of accounting principles and the intricacies of revenue recognition. Preview-enabled lectures guide you through the essential concepts, providing a solid base for the detailed exploration that follows.
Section 3: Example
Theory meets practice in this section as we tackle real-world examples. Engage in hands-on exercises to apply revenue recognition principles to diverse scenarios, honing your problem-solving skills and gaining practical insights.
Section 4: Method
Uncover various methods employed in revenue recognition, including the Percentage of Completion Method and Revenue Operating Cycle. Understand the impact of critical standards like IFRS 15 and explore scenarios involving franchises and installment sales.
Section 5: Recognize Revenue
Delve deeper into the nuanced process of recognizing revenue. Through lectures and practical examples, gain insights into recognizing revenue in different contexts. A comparative analysis of IFRS and US GAAP broadens your perspective on global practices.
Section 6: Telecom
Specialize your knowledge in revenue recognition challenges specific to the telecom industry. Navigate scenarios related to contract modifications, incentives, and set-top boxes. Acquire industry-specific insights for confident decision-making in the telecom financial landscape.
Join us on this educational voyage as we empower you with the knowledge and skills needed to master revenue recognition principles. Let's embark on this journey together!
Who this course is for:
- This course is designed for finance professionals, accountants, auditors, and individuals interested in gaining a deep understanding of revenue recognition principles. It is particularly beneficial for those working in industries with complex revenue structures, such as telecommunications. Whether you're a seasoned professional or a student aspiring to enter the finance and accounting field, this course provides valuable insights into the intricacies of revenue recognition practices.
- Professionals (majorly Accountants, Auditors, Accounting Consultants, and Chartered Financial Analysts etc.) who want to excel in global organizations by learning about global standards that ply in their working.
- Anyone who wants to learn about International Financial Reporting Standards and improve the knowledge about the working of organizations on a global level.
Instructor
- 4.3 Instructor Rating
- 16,777 Reviews
- 475,611 Students
- 640 Courses
EDUCBA is a leading global provider of skill based education addressing the needs of 1,000,000+ members across 70+ Countries. Our unique step-by-step, online learning model along with amazing 5000+ courses and 500+ Learning Paths prepared by top-notch professionals from the Industry help participants achieve their goals successfully. All our training programs are Job oriented skill based programs demanded by the Industry. At EDUCBA, it is a matter of pride for us to make job oriented hands-on courses available to anyone, any time and anywhere. Therefore we ensure that you can enroll 24 hours a day, seven days a week, 365 days a year. Learn at a time and place, and pace that is of your choice. Plan your study to suit your convenience and schedule.