Overview:The new FASB 606 on revenue recognition supersedes nearly all current revenue recognition provisions, including industry-specific guidelines, and replaces it with a more principles-based approach, which is now a five-step process. The new standard is effective for public companies in January, 2018 and private companies in 2019. Now is the time to dig in and start getting up to speed on these critically important issues.
This event may be a rebroadcast of a live event, with the instructor available to answer your questions either during or after the event.
- Identify the contract(s) with a customer.
- Identify the performance obligations in the contract.
- Determine the transaction price.
- Allocate the transaction price to the performance obligations.
- Recognize revenue as the business satisfies a performance obligation.
- Apply the new financial accounting concepts in the revenue recognition setting.
- Gain a working knowledge of accounting rules as they related to revenue recognition.
- Discuss planning and potential pitfalls.
Designed For:Practitioners and members in industry seeking to gain a better understanding of the new revenue recognition standard and transition rules.
Vendor:CPA Crossings, LLC
Member/Nonmember Fees:79 / 113
CPE:Accounting 2 hour(s)
Yellow Book Credit:No
Douglas J Van Der Aa
CPA Crossings, LLC
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Day of program or no notice of cancellation, 100 percent course fee assessed.
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