Surgent's Guide to the Topic 606 Revenue Recognition Model for All CPAs

Overview

While the effective date of Topic 606 has passed for companies, there will always be a need for a comprehensive review of the accounting related to revenue recognition, including recently issued changes to this guidance. Whether you are looking to improve your revenue recognition processes, benchmark your financial statement disclosures against your peer group, or assess the impact of changes to your revenue recognition processes due to COVID-19, this course will provide you with the information you need to apply Topic 606 in this current environment. This course will review the basic Topic 606 five-step model and provide specific implementation guidance and examples. It will cover the presentation and disclosure requirements for Topic 606, including the private company disclosure relief available under Topic 606 and provide disclosure examples. Lastly, the course will discuss best practices, lessons learned and ways to improve the business process when recognizing revenue going forward. Even though implementing Topic 606 is behind us, it is still possible to improve the processes that drive revenue recognition and this course will assist you in doing that.