Course ID: CL2CPO

Revenue Recognition: Identifying the Contract and Performance Obligations

This course offers an overview of the principles of revenue recognition under FASB ASC 606, Revenue from Contracts with Customers, and addresses the first two steps of a five-step process for revenue recognition under this new standard. Step 1 deals with identifying a contract, including collectability, reassessment criteria and enforceable rights. Step 2 deals with identifying performance obligations in a contract, including distinct goods or services and combining contracts.

Learning Objectives

• Recognize principles of revenue recognition.
• Recognize requirements for identifying a contract with a customer.
• Recognize performance obligations.

Major Topics

• Principles of revenue recognition
• Steps 1 and 2 in the process for revenue recognition, identifying a contract and identifying performance obligations in a contract

Advanced Preparations


Who Should Attend

Accountants in public practice, industry, and academia who need an update on the latest revenue recognition guidance

Fields of Study
Accounting (Governmental)


Experience in the application of accounting standards


CPE Credits


This course is available for your group as:


Let's Roll!

To learn more or customize this course for your group, complete this form and a BLI team member will get back with you shortly.

Or, contact BLI: or
Your browser is out-of-date!

Update your browser to view this website correctly.

Update my browser now