Revenue Recognition Topic 606 Contract with Customers - Identify the Contract Part 2
Total Credits: 1.2 including 1.2 Accounting - Technical
- Average Rating:
- Not yet rated
- Categories:
- ACPEN Industry Institute | Accounting and Auditing
- Faculty:
- Lynn Fountain
- Course Levels:
- Intermediate
- Duration:
- 1.2 Hours
- License:
- Expires 30 day(s) after program date.
Description
This course is a continuation of discussion over Step One in the revenue recognition process of Identify the Contract. Specifically, this session delves further into the considerations surrounding contract modifications, change orders, unpriced change orders, cancelations, non-finalized changes and accounting treatment when a contract does not exist.
Basic Course Information
Learning Objectives- Explore the components and requirements around contract modifications
- Identify methods to determine contract modification status
- Explore accounting considerations for contract modifications
- Identify methods to account for unpriced change orders
- Explore modifications that fall under the cumulate catch-up accounting rules
- Explore accounting for non-finalized contract changes
- Explore accounting for contract cancelations
- Identify accounting treatment when it is determined a contract does not exist
- Explore the concept of contract combinations
Major Subjects
- Revenue Recognition
- Accounting
Course Materials
| Important CPE Credit Instructions_READ BEFORE WEBCAST UPDATED (442.7 KB) | Available after Purchase | ||
| Revenue Recognition Topic 606 Contract with Customers - Identify the Contract Part 2 Handout (1.1 MB) | Available after Purchase | ||
Faculty
Lynn Fountain Related Seminars and Products
Lynn Fountain has over 45 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing and risk management. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Lynn has held two Chief Audit Executive (CAE) positions for international companies. In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees. The fraud was formally investigation by the FBI and resulted in 5 indictments estimating a $13M fraud loss.Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials.
Dates
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Fri, May 23, 2025 - 12:00 PM to 1:09 PM CDT
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Tue, Jun 03, 2025 - 6:00 PM to 7:09 PM CDT
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Fri, Jun 20, 2025 - 4:00 PM to 5:09 PM CDT
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Wed, Jul 02, 2025 - 8:00 AM to 9:09 AM CDT
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Thu, Jul 17, 2025 - 10:00 AM to 11:09 AM CDT
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Fri, Aug 08, 2025 - 12:00 PM to 1:09 PM CDT
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Wed, Aug 27, 2025 - 2:00 PM to 3:09 PM CDT
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Thu, Sep 04, 2025 - 4:00 PM to 5:09 PM CDT
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Mon, Sep 22, 2025 - 8:00 AM to 9:09 AM CDT
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Wed, Oct 08, 2025 - 10:00 AM to 11:09 AM CDT
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Mon, Oct 20, 2025 - 12:00 PM to 1:09 PM CDT
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Mon, Nov 03, 2025 - 2:00 PM to 3:09 PM CST
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Fri, Nov 21, 2025 - 4:00 PM to 5:09 PM CST
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Tue, Dec 09, 2025 - 8:00 AM to 9:09 AM CST
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Tue, Dec 23, 2025 - 6:00 PM to 7:09 PM CST
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Fri, Jan 02, 2026 - 12:00 PM to 1:09 PM CST
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Thu, Jan 15, 2026 - 2:00 PM to 3:09 PM CST
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Fri, Feb 06, 2026 - 4:00 PM to 5:09 PM CST
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Mon, Feb 16, 2026 - 8:00 AM to 9:09 AM CST
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Thu, Mar 12, 2026 - 10:00 AM to 11:09 AM CDT
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Mon, Mar 23, 2026 - 12:00 PM to 1:09 PM CDT
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Wed, Apr 01, 2026 - 2:00 PM to 3:09 PM CDT
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Mon, Apr 20, 2026 - 4:00 PM to 5:09 PM CDT
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Sat, May 02, 2026 - 8:00 AM to 9:09 AM CDT
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Mon, May 18, 2026 - 10:00 AM to 11:09 AM CDT
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Thu, Jun 04, 2026 - 12:00 PM to 1:09 PM CDT
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Tue, Jun 30, 2026 - 6:00 PM to 7:09 PM CDT
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Additional Info
Basic Course Information
Prerequisites Suggested Revenue Recognition - Identify the Contract Part 1Advanced Preparation None
Designed For
Accountants, Finance Professionals, Auditors, Internal Auditors
Original Recording Date 2/2025
Yellow Book No
Course Developer Lynn Fountain, CPA, CGMA, CRMA, cPIA, MBA
Date Added to Catalog 02/2025
Additional Information
Complaint Resolution PolicyPlease contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement
Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Instructional Delivery Method
Group Internet Based
Course Registration Requirements
Online Registration
Refund/Cancellation Policy
Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.