Revenue Recognition - Intro and Application
4.5 (1 rating)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
6 students enrolled
Wishlisted Wishlist

Please confirm that you want to add Revenue Recognition - Intro and Application to your Wishlist.

Add to Wishlist

Revenue Recognition - Intro and Application

This course covers the four principal Revenue Recognition criteria and introduces common issues in their application.
New
4.5 (1 rating)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
6 students enrolled
Last updated 6/2017
English
Current price: $10 Original price: $50 Discount: 80% off
5 hours left at this price!
30-Day Money-Back Guarantee
Includes:
  • 2 hours on-demand video
  • 2 Articles
  • 2 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Identify the four basic criteria required to recognize revenue.
  • Discover how to apply the four basic criteria required to recognize revenue to arrangements with customers.
  • Discover how to map certain aspects of the forthcoming ASC 606 standard on revenue recognition to existing guidance.
View Curriculum
Requirements
  • Prerequisite: Basic proficiency in US GAAP accounting and a basic knowledge of financial accounting and familiarity with how customers order products and services will be helpful.
Description

This revenue recognition course focuses on the four basic criteria that must be met to recognize revenue under current US GAAP for most companies and products:

  • Evidence of an Arrangement
  • Delivery or Performance
  • Fixed or Determinable Price
  • Collectibility

Much has been written as to what they are, but relatively little about how to apply them within a practical framework.  This course examines the four criteria and provides practical examples.  The course also covers common issues in the application of the four criteria and introduces aspects of the upcoming Topic 606 – Revenue from Contracts with Customers – and how current rules compare with the future rules of revenue recogntion.


Who is the target audience?
  • Anyone in Finance, Accounting, or related fields.
Compare to Other Finance Courses
Curriculum For This Course
11 Lectures
01:52:32
+
Introduction
9 Lectures 01:52:28



Delivery and Performance
15:09

Fixed or Determinable Price
07:42

Fixed or Determinable Price Examples
07:28

Collectibility
05:56

Recap and Closing
02:13

Basic Revenue Recognition - Introduction and Application of the Four Recognition
56:13
+
Supporting Materials
2 Lectures 00:04
Slides: Rev Rec Application of the Four Criteria
00:02

Rev Rec Application of the Four Criteria Glossary/Index
00:02
+
Review and Test
0 Lectures 00:00

Review Questions: Basic Revenue Recognition - Introduction and Application of the Four Recognition Criteria [with commentary on eventual ASC 606 conversion]

Review Questions
3 questions

Final Exam: Basic Revenue Recognition - Introduction and Application of the Four Recognition Criteria [with commentary on eventual ASC 606 conversion]

Final Exam
5 questions
About the Instructor
Illumeo Learning
4.4 Average rating
322 Reviews
1,365 Students
242 Courses
Condensed and Efficient Courses for Busy Professionals

Illumeo, incorporated in 2009, is revolutionizing the hide-bound world of corporate learning. Illumeo works with corporate professionals and organizations of all sizes to build the skills and capabilities that help everyone be an expert at their job.

Based in Silicon Valley, CA, Illumeo serves thousands of corporations and corporate professionals across Finance, Accounting, Human Resources, Sales and Marketing. The platform offers assessments, industry-benchmarked competency analyses, hundreds of expert-developed courses, collaborative tools, and the ability for companies to self-publish internal courses that promote institutional knowledge retention and dissemination.

Illumeo is the place for expertise management and we are dedicated to the proposition that everyone can be an expert at their job.

Jeff Tchir (Illumeo)
4.4 Average rating
7 Reviews
20 Students
3 Courses

Jeff is the founder and technical advisor to RevRec.NET, a consulting group focused on providing advisory services around all aspects of revenue recognition, and ASC 606 implementation in particular. He also remains engaged at Silver Spring Networks, where he supports the sales and legal teams in strategic deal structuring, and advises the company on compliance matters and technical accounting policy with respect to revenue recognition. In addition, he has served on the advisory board of Revstream, a revenue lifecycle management and billings solutions company. Prior to these roles, Jeff’s past experience includes client serving positions at Ernst & Young and Deloitte, as well as holding various positions within the controllership functions of both NetApp and Silicon Graphics. 

Experience

Founder and Technical Advisor : RevRec.Net - [2006-02 to Current]

Director of Revenue : Silver Spring Networks - [2009-06 to 2015-10]

Dir of Finance - Revenue Recognition : Silicon Graphics - [2004-11 to 2006-02]

Senior Manager - Worldwide Revenue : NetApp - [2003-05 to 2004-11]

Corporate Accounting Manager : NetApp - [2001-11 to 2003-05]

International Finance Manager : NetApp - [2000-01 to 2001-11]

International Tax Manager : Ernst & Young - [1997-09 to 1999-12]

Manager, Audit and Accounting : Magne Brokopiw & Zielke - [1995-09 to 1997-09]

Senior Staff : Deloitte - [1990-05 to 1995-09] 

Education

Bachelor of Commerce, Accounting : University of Manitoba