Webinar (AICPA): Revenue Recognition: Mastering the New FASB Requirements

Description

The effective date of the new accounting standard for revenue recognition is fast approaching! With the issuance of FASB ASU No. 2014-09, Revenue from Contracts with Customers, FASB has completed a convergence project with the IASB to improve financial reporting by creating common revenue recognition guidance for U.S. GAAP and IFRS. For years, revenue recognition has been the cause of audit failures and the focus of corporate abuse and fraud allegations. This course will provide you with an in depth understanding of the framework for revenue recognition built around the core principle that is applied in a five-step process. In addition, understanding the changes and new requirements is critical for successful implementation of this new standard. Supported by practical examples, this course will assist you in avoiding revenue recognition traps and provide you with latest FASB guidance. In addition, you will understand how the new guidance impacts certain industries as a result of new criteria for recognizing revenue and changes in disclosure requirements.

Learning Objectives

– Recognize new revenue recognition principles.

– Identify appropriate revenue recognition decisions.

– Identify steps to take today to Be prepared for future implementation.

Major Topics

Topics Discussed

– Background, purpose, and main provisions of new standard

– Transition guidance

– 5-step process for recognizing revenue

– Disclosure requirements

– Implementation guidance – contracts, tax matters, internal controls, IT

Provider
AICPA
Course Level
Intermediate
CPE Field of Study
Accounting
8
Who Should Attend
Accountants in public practice and industry seeking an understanding of the latest revenue recognition guidance.
Instructor(s)
Renee Rampulla
Prerequisites

Experience in the application of accounting standards

Location
Webinar
Register Now
When
Oct 22, 2019
7:00 am - 3:00 pm MDT
Location
Webinar
Total CPE Credits
8.0
Format
Webinar
Instructor
Renee Rampulla

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Webinar (AICPA): Revenue Recognition: Mastering the New FASB Requirements


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