Revenue: The Five Steps (Topic 606-10) Webcast | 4203310A


Date :
August 3, 2020 11:00 AM - 1:00 PM
Location :
Facility :
Webcast Remote
Level of Difficulty :
Member Price :
Nonmember Price :
CPE Credits :
CPE 2.00, AA 2.00
Show tabs

This course, the first in a three-course series, concentrates on the ASU 606, Revenue from Contracts with Customers. Address the Five Steps approach as covered in ASU 606 10-25.

Since ASC 606, Revenue from Contracts with Customers, is now effective for most entities, now is the time to review the Topic and stay up-to-date with recently issued updates.

With the issuance of a final standard—ASC 606, Revenue from Contracts with Customers—public companies were required to implement after Dec. 15, 2017, and non-public companies, after Dec. 15, 2018.


  • Outline the the Five Steps to revenue recognition under ASC 606.
  • Identify the contract.
  • Determine if the performance obligation is satisfied over time or at a point in time.
  • Explain the concept of variable consideration and calculate the amount of variable consideration, if any.
  • Allocate the transaction price to the performance obligations.
  • Recognize revenue.

Major Subjects:

  • FASB ASC 606, Revenue from Contracts with Customers
  • All recently released updates to ASC 606, Revenue from Contracts with Customers

Advanced Prep:


Misc. Information:

Level of Difficulty:
Field of Interest:


Designed For:

CPAs, auditors, consultants, and financial and management professionals.


Bobbe Barnes, CPA

Bobbe Barnes is an educator and consultant with international experience in professional certification, governmental accounting and accounting Training of Trainers (TOT) programs. She has worked with the Philippines’ SEC on an Asian Development Bank (ADB) project and completed a World Bank assignment with the Institute of Chartered Accountants in England and Wales (ICAEW) training Nigerian SEC staff in International Financial Reporting Standards (IFRS). Previously, Barnes was program director of the Accounting Training Center at Kabul University and regional director of accounting education on a USAID-funded accounting reform project implemented by The Pragma Corporation in 10 countries, including five Central Asian countries plus Azerbaijan, Belarus, Moldova, Russia and Ukraine. In China, she analyzed the existing environment for CPA certification and continuing professional education against international education standards for both accounting and auditing.

Barnes has taught IFRS, US GAAP and XBRL courses worldwide through various training providers including Euromoney Training and Finansto. She also consults and conducts workshops on accounting and finance topics through her firm, Acumen Global Training, LLC. Previously, Barnes was on the faculty of the University of Texas at Austin and the University of Colorado. In addition, she served as editor-in-chief for Conviser Duffy CPA Review before its purchase by Becker CPA Review. Barnes started her career with PricewaterhouseCoopers in Toronto where she was a prize-winner on the Chartered Accountants examinations. She holds a master’s degree in professional accounting from the University of Texas at Austin and a bachelor’s degree in economics from the University of Rochester.


  • Materials - ebook