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Revenue Recognition Topic 606 Contract with Customers - Identify the Contract Part 2

Total Credits: 1.2 including 1.2 Accounting - Technical

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Categories:
ACPEN Industry Institute |  Accounting and Auditing
Faculty:
Lynn Fountain
Course Levels:
Intermediate
Duration:
1.2 Hours
License:
Product Setting: Expires 30 day(s) after program date.
Dates
Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.
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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's Profile

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

Thu, Feb 27, 2025 - 07:00am to 08:09am AKST
Wed, Mar 05, 2025 - 09:00am to 10:09am AKST
Fri, Mar 21, 2025 - 11:00am to 12:09pm AKDT
Sat, Apr 05, 2025 - 01:00pm to 02:09pm AKDT
Mon, Apr 21, 2025 - 05:00am to 06:09am AKDT
Wed, May 07, 2025 - 07:00am to 08:09am AKDT
Fri, May 23, 2025 - 09:00am to 10:09am AKDT
Tue, Jun 03, 2025 - 03:00pm to 04:09pm AKDT
Fri, Jun 20, 2025 - 01:00pm to 02:09pm AKDT
Wed, Jul 02, 2025 - 05:00am to 06:09am AKDT
Thu, Jul 17, 2025 - 07:00am to 08:09am AKDT
Fri, Aug 08, 2025 - 09:00am to 10:09am AKDT
Wed, Aug 27, 2025 - 11:00am to 12:09pm AKDT
Thu, Sep 04, 2025 - 01:00pm to 02:09pm AKDT
Mon, Sep 22, 2025 - 05:00am to 06:09am AKDT
Wed, Oct 08, 2025 - 07:00am to 08:09am AKDT
Mon, Oct 20, 2025 - 09:00am to 10:09am AKDT
Mon, Nov 03, 2025 - 11:00am to 12:09pm AKST
Fri, Nov 21, 2025 - 01:00pm to 02:09pm AKST
Tue, Dec 09, 2025 - 05:00am to 06:09am AKST
Tue, Dec 23, 2025 - 03:00pm to 04:09pm AKST
Fri, Jan 02, 2026 - 09:00am to 10:09am AKST
Thu, Jan 15, 2026 - 11:00am to 12:09pm AKST
Fri, Feb 06, 2026 - 01:00pm to 02:09pm AKST
Mon, Feb 16, 2026 - 05:00am to 06:09am AKST
Thu, Mar 12, 2026 - 07:00am to 08:09am AKDT
Mon, Mar 23, 2026 - 09:00am to 10:09am AKDT
Wed, Apr 01, 2026 - 11:00am to 12:09pm AKDT
Mon, Apr 20, 2026 - 01:00pm to 02:09pm AKDT
Sat, May 02, 2026 - 05:00am to 06:09am AKDT
Mon, May 18, 2026 - 07:00am to 08:09am AKDT
Thu, Jun 04, 2026 - 09:00am to 10:09am AKDT
Tue, Jun 30, 2026 - 03:00pm to 04:09pm AKDT

Additional Info

Basic Course Information

Prerequisites Suggested Revenue Recognition - Identify the Contract Part 1
Advanced 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 Policy

Please 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. 


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