Licensing Revenue Recognition and Disclosure Essentials
This course provides an overview of critical challenges companies encounter under ASC 606, emphasizing several key areas that can be particularly challenging for effective revenue recognition. This includes licensing arrangements, with an emphasis on how to recognize revenue from agreements that grant customers rights to use or access intellectual property. This course also addresses the requirements and challenges with respect to financial statement disclosures.
Participants will explore practical insights into recognizing revenue from licensing agreements, including how to determine if a license should be classified as a right to use or a right to access intellectual property. With real-world examples and case studies, the course clarifies the implications of these classifications on revenue recognition timing and methods. Additionally, it guides learners through the complexities of reporting requirements, such as disaggregating revenue and disclosing contract balances, enabling compliance with ASC 606’s comprehensive standards.
This course is ideal for accounting professionals and financial analysts who work with licensing agreements and are responsible for ensuring accurate and transparent financial disclosures. By the end, participants will be equipped to navigate ASC 606's revenue recognition and disclosure requirements with confidence, improving the quality and clarity of their financial statements.
Kelen is a recognized author and reviewer of CPE courses and has authored nearly 160 courses (380+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics.  His courses are available for purchase from many online CPE providers including the AICPA.  Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple choice questions for various sections of the CPA exam.  He also serves as an Editorial Advisor for the AICPA’s "Journal of Accountancy".   Kelen has nearly 20 years of progressive finance and accounting experience. He currently serves as a Principal in Accounting Policy with HP in Doha, Qatar, and previously served in positions in Houston, Dallas, and Budapest, Hungary.  Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
