SEC Revenue Recognition Comments

CPE credit (NASBA QAS Self-Study) is available by completing and passing the program’s CPE Review & Exam.

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Upon the successful completion of this program, the participant will be able to:

• Recall key revenue recognition guidance in Accounting Standards Codification Topic 606 (ASC 606) and International Financial Reporting Standard 15 (IFRS 15). 

• Apply the revenue recognition guidance in ASC 606 and IFRS 15 by reviewing actual SEC comment letters and company responses. 

• Use the list of most frequent SEC revenue recognition comments to help avoid receiving SEC comments on revenue recognition accounting and disclosures.

Course Overview:

This program will focus on:

• Review of the FASB’s and IASB’s revenue recognition standards:

• Accounting Standards Codification Topic 606

• IFRS Statement 15

• Interpretations

• Enumeration of frequent comment issues for revenue recognition

• Review and discussion of detailed real-world examples 

• Company disclosures 

• Subsequent SEC comments

• Company responses and SEC follow-on comments 

• Summary of overall considerations and conclusions from examples

• Discussion of how to avoid revenue recognition comments

CPE Program Level: Update 

Intended Audience: CPAs, accountants, attorneys, and other allied professionals who deal with SEC reporting and disclosure and related accounting issues, including chief financial officers (CFOs), controllers and their staff, internal auditors, partners of public accounting firms and their staff, in-house counsel, and outside attorneys.

Prerequisites:  None

Advanced Preparation: None

Instructional Method: QAS Self-Study

Updated: February 2025

Credit Information: 1 CPE credit is available upon completion of this program’s 3 content-review questions and a minimum passing score of 70% on the 5-question final exam.