Learning objectives
During this training, we will lay out the five principles of FASB’s ASC 606, “Revenue from Contracts with Customers,” and the audit implications around each step.
We will also touch on some frequently asked questions regarding implementation challenges and areas that require clients to use significant judgment and assumptions.
Using insights from various practice monitoring resources, we’ll also go over some of the common audit failures identified when auditing revenue and accounting estimates.
Finally, we’ll cover some misconceptions