Five steps to record revenue in detail.
Accounting for revenue correctly has a direct impact on company profit. This course explains the five steps to record revenue in detail, and how accountants can manage complex agreements with customers.
This course will cover the following Objectives: • To understand how to record revenue, using the five required steps • Recognize the differences between performance obligations • Understand the differences between types of contract modifications • Differentiate between fixed consideration and variable consideration • Understand how purchase options impact revenue • Identify the most common types of variable consideration • Recognize transactions for distinct goods and services
Field of Study: Accounting
Lambers, Inc. is a leader in review courses for the EA, AFSP, and CPA exams. Lambers also offers IRS Continuing Education for Tax Preparers and CPE for CPAs. Accounting and finance professionals around the world incorporate Lambers products into their training programs.
CPA, Auditor, Tax Preparer and College Professor
Kenneth W. Boyd is a former Certified Public Accountant (CPA) and the author of several of the popular For Dummies books published by John Wiley & Sons including CPA Exam for Dummies and Cost Accounting for Dummies. Ken has gained a wealth of business experience through his previous employment as a CPA, Auditor, Tax Preparer and College Professor. Today, Ken continues to use those finely tuned skills to educate students as a professional writer and teacher.
