Revenue: Allocate the Transaction Price (Step 4 of ASC 606)
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Description
Now that you’ve been introduced to the 5-step model within ASC 606, Revenue from Contracts with Customers, it’s time to take your training to the next level! In this CPE-eligible, eLearning course (0.5 CPE) we dive into step 4, allocating the transaction price to the various performance obligations in the contract.
The objective of step 4 is to allocate the transaction price to each performance obligation, in an amount that depicts the amount of consideration to which the entity expects to be entitled, in exchange for transferring the promised goods or services to the customer. But how do we know how much of the total transaction price to allocate to each performance obligation? Don’t worry, we cover the answer to this question and the related requirements of step 4 in this online course.
This is the fifth course in our 7-part revenue recognition training series.
This course is included in the following collections:
Learning Objective
- Recall the accounting requirements when allocating the transaction price to each identified performance obligation
Additional Information
| Last Updated | 10/01/2023 |
|---|---|
| CPE Credit | 0.5 |
| Field of Study | Accounting |
| Instructional Delivery Method | QAS Self Study |
| Knowledge Level | Overview |
| Prerequisites | None |
| Advanced Preparation | None |
| Expiration | This course, collection, or subscription expires one year from the date of purchase. The post-course assessment for each course must be satisfactorily completed, as evidenced by a passing grade of at least 70%, by the expiration date to be awarded any qualifying continuing professional education (CPE) credit. |
| Refund or Cancellation Policy | For more information regarding refunds, concerns, and program cancellation policies, please contact the GAAP Dynamics Support Team via email at support@gaapdynamics.com or call (804) 897-0608. |
$70
0h 30m
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