Accounting for revenue correctly has a direct impact on company profit. This course explains the five steps to record revenue in detail, and how accountants can manage complex agreements with customers. This course will cover the following Objectives: • To understand how to record revenue, using the five required steps • Recognize the differences between performance obligations • Understand the differences between types of contract modifications • Differentiate between fixed consideration and variable consideration • Understand how purchase options impact revenue • Identify the most common types of variable consideration • Recognize transactions for distinct goods and services Field of Study: Accounting