Accounting & Bookkeeping


Revenue Recognition - IFRS 15 & ASC 606

Shedding light to practical application issues

4.15 (839 reviews)


4 hours


Mar 2019

Last Update
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What you will learn

All about newly introduced Revenue Standard - IFRS 15 and ASC 606.


This course explains and provides deeper insight into the new revenue standard, namely, "Revenue from Contracts with Customers" issued jointly by IASB and FASB as IFRS 15 and ASC 606, respectively.  Delivered in a fun, user-friendly and animated video format, the complex subject becomes interesting and clear as students progress throughout the course content. The course consists of 3 main sections. The first section consisting of 5 lectures devotes each lecture to one of 5 steps of 5 step revenue recognition model. The second section delivers a quite interesting video content explaining accounting entries for types of revenue recognized over time. And the last section is all devoted to practical questions and their solutions, treatment and recognition matters of concern to wider accounting and finance audience, including but not limited to all level of accountants, finance experts and professionals, ACCA and CPA students in their pursuit of revenue topic.


Revenue Recognition - IFRS 15 & ASC 606
Revenue Recognition - IFRS 15 & ASC 606
Revenue Recognition - IFRS 15 & ASC 606
Revenue Recognition - IFRS 15 & ASC 606


5 Step Revenue Recognition Model

Identify contracts with customers

Lecture 1 Quiz

Identify the separate performance obligations

Lecture 2 Quiz

Determine the transaction price

Lecture 3 Quiz

Allocate transaction price to performance obligations

Lecture 4 Quiz

Recognize revenue when (or as) the performance obligation is

Lecture 5 Quiz

Accounting for revenue

Accounting for revenue

Lecture 6 Quiz

Practice Questions and Solutions

Practice Questions and Solutions

Quiz to Lecture 7


Anna4 November 2020

The course provides baseline knowledge of the standard. However, it falls short in several areas: 1. delivery - the slides are sloppily designed, with multiple typos and formatting that cuts off the text. There are many instances of the instructor clearing her throat. That should have been recorded. 2. There is no discussion on the cases when ASC 600 and IFRS 15 diverge. That should have been at least mentioned.

David26 October 2020

The narrator has a pleasant voice, appropriate speech rate, and is 95% understandable. However, her accent makes some of the words indistinguishable and some sections hard to follow for me.

Hubertus16 October 2020

Das Englisch der Sprecherin ist eher schlecht. Die Untertitel sind - wie so oft bei diesem Anbieter - oftmals falsch und unbrauchbar. Inhaltlich und bzlg. der Trainingsbeispiele fand ich den Kurs gut und nützlich

Komal9 October 2020

The speaker is not engaging and fumbled quite a lot due to which I was not able to concentrate on the content. Moreover the accent seems to be quite different (not American or Britain, neither Australian) due to which I had to stress more on understanding the language more than content. Speaker seems to have throat infection (too much of ahem ahem...)

Michael17 September 2020

The speed of the course is a bit fast considering the material. Formulas to complete the journal entries should be included in the lectures and when to apply them (i.e.-Contract Margin, % of Completion, Margin to Date, Contract Assets, % Complete, Cost of Sales, etc..). Overall a good quick crash course for those interested in ASC 606.

Dinesh30 August 2020

Narrator is just repeating the excerpts from the standard which aren't that easy to comprehend and the examples explained are worst.

Akshay28 July 2020

This was a good learning experience which helped me to understand the basic concepts of the new IFRS 15 standard.

John16 July 2020

it was, but the closed captions were poor/unreliable. they seemed to be phonetic renderings of the accented English of the narrator.

Anuja8 July 2020

It would be great if it was interactive and taught by real teacher, I am having problems understanding the accent of the speaker in this course.

Maximilian4 June 2020

There were a few minor spelling mistakes. The formatting of multiple choice questions was very, very poor (using Internet Explorer, there was a new line after each word) what made reading the options rather hard, especially because I had to spend an extensive time scrolling up and down only to be able to read and compare the options.

Sunao28 May 2020

I’d rather buy a book than this course. The narration was terrible, there is no intonation and had thick English accent. The covered information was reasonable but the course was not professionally prepared as an online course.

Nisha25 May 2020

can be made more simple to understand. concepts are not clear, I only understand when I see the examples.

Saiful4 May 2020

Thanks to Udmey! Its really nice course which clears my concept regarding IFRS 15, and it will help in my practical life.

Mohammad18 April 2020

The course made some point very clear to me, it is an achievement. But there are many things to improve like mismatch between audio and what is written in the screen. Spelling mistake like the stated as he. 20m said as 200m.

Blerina24 March 2020

Focused on the main points and very well explained with examples. The titles in english contains a lot of mistakes.


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