Related Posts
Is VCA hiring in the UAE at the junior level?
Additional Posts in Accounting
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Is VCA hiring in the UAE at the junior level?
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Download the Fishbowl app to unlock all discussions on Fishbowl.
Copy and paste embed code on your site
Send download link to your phone
OR
Scan your QR code to download
Fishbowl app on your mobile
EY puts out great white papers they call “technical lines”. This is probably as quick and easy as you’ll find.
RevenueHub.org
I’m in technical accounting consulting for my firm, but rather than read through the giant guidances the Big 4 put out (I like KPMG’s the best), you can find specific and detailed examples and how it’s different from 605 for the various subsets under 606.
Thanks - have heard about revenuehub.org
Any other good resources that people find valuable?
Depends on industry. Understand the five steps (identify contract w/ customer, identify separate performance obligations, determine transaction price, allocate transaction price to each separate performance obligation, and recognize revenue when performance obligations are met or variable constraints have been lifted). Rinse and repeat that until it clicks.
If you want to learn what the 5 steps are, then sure, D1 is right. But simply memorizing the 5 steps is not going to help in the practical application of the standard, which is what I assume OP is looking for.
Reach out to any colleagues in FAAS and see if they can set up an hour training for you / your team
Agree. I like KPMGs the best
But for audit you don’t need to be super technical, read the guidance, the testing templates etc and ask for help
Yep, reach out to your local technical team. I know I’m always happy to help teach audit teams about 606 and its intricacies.