FMN Plus-2024/June, Seg 1 - ASC 606 Revenue Recognition: Automate to Optimize Compliance
ASC 606 is a set of accounting standards established by the FASB, guiding revenue recognition practices for businesses. Compliance can be complex, but automation technologies help streamline adherence. Caitlin Steel, Product Management Leader at Leapfin, has years of experience in facilitating finance transformations, both as a CFO and technology expert. She guides us through integrating systems and leveraging modern technology to adhere to ASC 606 while providing consistency and precision in the financial statements.
Learning Objectives:
- Recognize how automation facilitates compliance with ASC 606 (US GAAP) for how revenue should be recognized and reported
- Distinguish how automation streamlines repetitive tasks, reducing the time and effort required to comply with ASC 606 for revenue recognition
- Recognize that automated systems minimize the risk of human error in revenue recognition
- Identify how automated systems can maintain comprehensive audit trails, documenting the entire revenue recognition process from source data to final entries
Prerequisites/Advanced Preparation:
None
Details
Course Code
:
FMN1567-FM
Release Date
:
06/07/2024
|
Expire Date
:
01/13/2026
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Credits
:
|
Length
:
1hr 40min
|
Course Level
:
Update
|
Course Type
:
QAS Self-Study
|
Passing Grade
:
70%
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Format Type
:
eLearning
Mobile Compatible
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Field Of Study
:
Accounting
|
|
Theme
:
Financial Accounting Best Practices
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