The COVID-19 pandemic has had many far-reaching accounting implications. One of its more significant effects is how entities have often changed the terms of their revenue contracts and assumptions used in recognizing revenue under ASC 606.
Due to such it
DESIGNED FOR
Accounting and auditing practitioners at all levels desiring to remain up to date on recent pronouncements and other standard setters’ activities
BENEFITS
- Common changes to revenue recognition practices due to the COVID-19 pandemic
- Major assumptions that may need to be updated when recognizing revenue in the COVID-19 environment
- Accounting implications of these changes
HIGHLIGHTS
- Recall common responses that entities have made in dealing with customers as a result of the COVID-19 pandemic
- Identify the accounting implications of the common changes to the revenue recognition process, which many entities hav
PREREQUISITES
Experience in accounting and attestation