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Four for Fall: Interpreting the New Revenue Recognition Standard: What All CPA’s Need to Know

Description

The new accounting standard for revenue recognition was released in 2014 but its effective date is upon us. With the issuance of FASB ASU No. 2014-09, Revenue from Contracts with Customers, FASB has completed a convergence project. 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. Recent updates to this course include industry-specific examples taken from the AICPA Audit and Accounting Guide Revenue Recognition.

MACPA Interactive Online Course Badge

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
  • 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
4
Who Should Attend

Accountants in public practice and industry who need an update on the latest revenue recognition guidance

Instructor(s)
Daniel Bradley
Prerequisites

Experience in the application of accounting standards

Advanced Preparation

None

Location
LIVE- ONLINE WEBCAST
Event Information
When
Nov 23, 2020
8:00 am - 11:30 am EST
Location
LIVE- ONLINE WEBCAST
Total CPE Credits
4
Format
Live Webcast

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Four for Fall: Interpreting the New Revenue Recognition Standard: What All CPA’s Need to Know


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