Self-Study: Surgent's ASC 606 Insights: Licensing Revenue and Financial Statement Disclosures

Overview

This course provides an overview of critical challenges companies encounter under ASC 606, emphasizing several key areas that can be particularly challenging for effective revenue recognition. This includes licensing arrangements, with an emphasis on how to recognize revenue from agreements that grant customers rights to use or access intellectual property. This course also addresses the requirements and challenges with respect to financial statement disclosures.

Highlights

• Right to Use vs. Right to Access
• Functional IP
• Symbolic IP
• License Renewals
• Revenue Recognition Disclosures
• Information about Contracts with Customers
• Disaggregation of Revenue
• Transaction Price Allocated to the Remaining Performance Obligations
• Practices to Avoid

Prerequisites

None

Designed For

Professionals interested in revenue recognition under ASC 606

Objectives

• Identify criteria for determing whether a license is distinct under ASC 606
• Distinguish between licenses that grant a right to use IP and those that grant a right to access IP
• Recognize the differences between functional and symbolic IP
• Determine when revenue should be recognized for licenses involving functional IP
• Identify the timing of revenue recognition disclosures based on ASC 606 guidelines
• Recognize required disclosures about contract nature and revenue policies

Preparation

None

Notice

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