Applying ASC 606: Revenue Recognition under the New Standard—Practical Examples Webinar (2.5 Hours)

This webinar will take a deep dive into industry-specific considerations and certain implementation challenges. It includes practical examples which apply to many industries. Examples will include collectability, contract modification, license agreement, software-related challenges, volume discount incentive, contingent revenue, contract costs, principal vs. agent, extended payment terms, warranties and more. A leading expert will show you how to analyze a contract under ASC 606, the New Revenue Recognition Standard.
 

AGENDA HIGHLIGHTS

•  Warranties

•  Administrative task/set-up activity fees

•  Transition Resource Group (TRG) discussion
   – Assessing collectability
   – Portfolio approach
   – Nonrefundable upfront fee

•  Determine the transaction price

•  Variable consideration

•  Sales and other taxes collected from customers

•  Price protection vs. most-favored nation clauses

•  Sales-based royalty

•  Sales returns and allowances

•  Significant financing component

•  Licenses

•  Sales commission costs in obtaining a contract

•  Costs to fulfill a contract
   – Incremental costs in obtaining a contract
   – What costs can be capitalized?
   – Amortization of contract costs

•  Gift cards issued by a merchant

•  Accounting for repurchase agreements

LEARNING OBJECTIVE  To provide accountants and other financial professionals with expert guidance on applying the New Revenue
Recognition Standard, ASC 606, by using practical, real-world examples.

PREREQUISITE  None.    ADVANCE PREPARATION  None.    PROGRAM LEVEL  Update.    NASBA FIELD OF STUDY  Accounting.
DELIVERY METHOD  Group Internet-Based.