June 24, 2021

Live Webcast

4 CPE Credits

Beach Retreat: Revenue Recognition Before and After New US GAAP: Case Studies of the Impact of Applying Changes in Accounting and Financial Reporting

  • Instructor

    Jennifer
    Louis

ASU 2014-09 (and subsequent related ASUs) is one of the most monumental changes in U.S. GAAP to ever occur – and it impacts every entity out there, regardless of nature, size and complexity. This course will use an illustrative example approach to clearly demonstrate the impact on revenue recognition under existing and changing U.S. GAAP.

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Learning Objectives

Upon completion of this course, participants will possess:

  • Describe significant differences in accounting and financial reporting before and after ASU 2014-09 and related changing U.S. GAAP
  • Explain important aspects of revenue recognition that are NOT changing with the new rules
  • Apply tips for implementing and transitioning to the new revenue recognition model

Major Topics

  • Identifying contracts with customers under the old and new rules
  • Defining performance obligations to the customer under the old and new rules, including when multiple obligations are involved
  • Determining the total transaction price under the old and new rules, including noncash and long-term financing considerations
  • Allocating the transaction price and recognizing revenue as performance obligations are satisfied
  • Responsibilities of accounting, finance, legal, tax, governance in transitioning to the new U.S. GAAP rules
  • Illustrative examples of the treatment of various scenarios under the old and new rules

CPE Credits Available

4 CPE Credits
4
Accounting

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • Accounting & Auditing

Prerequisites

None

Advanced Preparation

None

Intended Audience

Public and industry accountants responsible for monitoring the proper treatment of revenue recognition obligations

Provider

Business Learning Institute

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