[Anonymous]

My becker got expired and I am taking FAR in a month. Based on my research, it looks like installment sales and cost method are not likely to be tested along with franchise accounting. For those ones who have becker updated version, do you see chapter 1-3(module) is the same? I wish I had an access to the updated version

[Anonymous]

It's updated for the revenue recognition for long term contracts.

ISTAR:
Identify the contract with customers
identify Separate performance obligations in the contract
determine Transaction price
Allocate transaction price to the separate performance obligations
Recognize revenue when or as the entity satisfies each performance

Can you still order the updated book for $25? I saw that was an option. It might be worth it.

Best of luck!

[Anonymous]

@Allison,

The updated version (V3.1) for F1 – Module 3 (Revenue Recognition Part: Part 1) provides an overview of the new “Five-Step Approach” like @Brianna stated above.

[Anonymous]

@Allison here's the list of what changed for FAR
https://na56.salesforce.com/sfc/p/#i0000000bp0p/a/0Z000000fxXz/45Iz37iXCBLdqjRTV6nZrl949DPUe3gGZhq36Ttpd.o
View the summary of changed from V3.0 to V3.1 and it allows you to download the updated pages of the textbook.

[Author]

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