CE/CPE Course Information

Revenue from Contracts with Customers

CPE Credits: 4
Subject Area: Accounting and Auditing
Field of Study: Accounting
Program Level: Overview
Lesson Version: 18-1
Publication/Revision Date: November 20, 2018
Prerequisites/Advanced Preparation: None
Written By: Michael Kustanovich, CPA

After completing this course, you will be able to
  • Account for contract modifications and identify the contract with a customer
  • Identify the separate performance obligations in the contract
  • Determine the transaction price and calculate the effect of the time value of money
  • Apply the right accounting method in accounting for variable consideration
  • Allocate the transaction price to separate performance obligations in the contract
  • Distinguish between situations when the revenue is recognized over time and when it is recognized at a point in time
  • Identify the costs that were incurred to obtain or fulfill a contract with a customer
Course Topics
  1. Introduction
  2. Identifying the Contract with a Customer
  3. Identifying the Performance Obligations in the Contract
  4. Determining the Transaction Price
  5. Allocating the Transaction Price to the Performance Obligations in the Contract
  6. Recognizing Revenue When (or as) the Entity Satisfies a Performance Obligation
  7. Costs to Obtain or Fulfill a Contract with a Customer

This self-study course consists of an Audiovisual presentation or a 20-question True/False Introductory quiz, a Knowledge Transfer Outline with multiple-choice questions for study and review, and a Qualified Assessment of 20 questions.

This course is designed for your convenience. You may log out at any time during the course; your current position and all work will be saved. The next time you log in, you can resume right where you logged off.

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