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 distinguishing between recognizing revenue over time versus at a point in time as well as principal versus agent considerations.

Through practical examples and case studies, participants will gain insights into determining the appropriate timing for revenue recognition based on performance obligations and customer benefits. The course delves into principal-agent considerations, guiding learners on how to assess control and responsibility to determine whether an entity should act as a principal or an agent. Participants will also explore key factors such as inventory risk, pricing control, and contractual terms, which are essential for making accurate principal-agent classifications. By the end of the course, attendees will be equipped to navigate the complexities of ASC 606 with confidence, ensuring both compliance and clarity in their revenue recognition practices.