explain these please, need extra notes. Thank you.

a. Revenue recognition cycle (know all 5 steps in detail) i. Know when a contract exists ii. Know how to identify performance obligations iii. Know how to calculate transaction price (i.e. what about variable consideration/incentive payments?) iv. Know how to allocate revenue between multiple performance obligations 1. Both "standard" pro-rata approach and when stand-alone price is not available (also cost approach - as it applies to long term contracts) v. Know how/when to recognize revenue 1. Upon completion versus over time 2. Timing of revenue recognition (i.e. when does a customer take control of a good? When can revenue be recognized?) b. Special topics - primarily need an overview of these; limited calculations i. Consignments ii. Principal Agent iii. Gift Cards iv. Franchises v. Licenses vi. Bill and Hold Agreements c. Construction/long-term contract accounting i. For both revenue recognized upon completion and revenue recognized over time, know how to: 1. Calculate revenue per period a. Profitable contracts b. Temporary loss contracts c. Total/permanent loss contracts 2. Calculate gross profit per period 3. Balance sheet presentation a. Accounts Receivable b. Current asset/current liabilities 4. Associated Journal entries