Deep Dive into Revenue Recognition & Leasing - 2023 (Text Based)

This course provides a detailed overview of the key principles and requirements with respect to revenue recognition and leasing transactions.  Both of these areas witnessed substantial changes made in years past by the FASB.  This course takes a quick trip down memory lane to explore how both of these standards evolved, and then takes the user down a detailed path of understanding the key financial reporting requirements of each.

Learning Objectives:

1. Recognize how the new revenue recognition standards were developed between the FASB and IASB

2. List the five steps involved in the new revenue recognition model

3. Recognize the considerations involved in identifying whether a contract exists

4. Identify the considerations involved with measuring the transaction price

5. Recognize the steps involved in allocating the transaction price to performance obligations

6. Recognize how the leasing standard has evolved and how the new standard is organized

7. Determine whether an arrangement contains a lease

8. Identify considerations with respect to substitution rights and decision-making rights

9. Identify the criteria for the new finance lease and short-term leases

10. Recognize the recognition and measurement requirements for both lessees and lessors

Instructional Method: Self-Study

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FurtherEd is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.