Understand the fundamental principles of the contract- based approach to
revenue recognition developed by FASB and IASB. Learn how to analyze
contracts and account for them in terms of their performance
obligations. Study how basic guidance is interpreted in more complex
transactions using extensive implementation examples. Understand how the
new approach to revenue will affect companies in a variety of
industries. The multiple deliverables issue and its effect on revenue
and cost calculations. Learn how the percent of completion approach may
be altered by the revised accounting model