Overview
What this challenge is about.
Apply ASC 606 to a $500k SaaS contract, allocate revenue, and assess risks to earn your verifiable certificate.
The scenario
CloudSync is a Boston-based B2B SaaS company with 40 employees, offering a cloud-based project management platform. It recently closed its first enterprise deal worth $500k annually, with a 3-year contract including implementation, support, and performance bonuses tied to user adoption.
The Brief
What you'll do, and what you'll demonstrate.
How should CloudSync recognize revenue for its first enterprise contract under ASC 606, given multiple performance obligations and variable consideration?
Earning criteria — what you'll demonstrate
- Apply the ASC 606 five-step model to a complex contract
- Identify and evaluate distinct performance obligations
- Allocate transaction price and determine revenue recognition timing
- Assess risks related to variable consideration and contract modifications
Program Fit
Where this fits in your program.
Sharpens the same skills your degree expects you to demonstrate.
Aligned coursework coming soon.
Skills
Skills you'll demonstrate.
Each one shows up on your verified credential.
- Revenue Recognition
Apply revenue recognition to solve real industry problems and demonstrate production-level capability.
- Asc 606
Apply asc 606 to solve real industry problems and demonstrate production-level capability.
- Contract Analysis
Apply contract analysis to solve real industry problems and demonstrate production-level capability.
- Financial Reporting
Apply financial reporting to solve real industry problems and demonstrate production-level capability.
Careers
Career paths this challenge builds toward
Completing this challenge demonstrates skills that transfer directly to these roles: