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

Description

The effective date of FASB ASC 606, Revenue from Contracts with Customers, is upon us! Do you know which contracts are within the scope of the standard and when revenue should be recognized at a point in time of over time? This course answers those questions by providing a basic understanding of the five-step process for recognizing revenue under FASB ASC 606. Supported by practical examples, this course addresses core principles that all CPAs need to know. Recent updates to this course include the latest guidance from FASB, industry-specific examples taken from the AICPA Audit and Accounting Guide Revenue Recognition, as well as disclosure illustrations.

Learning Objectives

“• Recognize principles of FASB ASC 606.
• Recognize requirements for identifying a contract under FASB ASC 606.
• Recognize performance obligations under FASB ASC 606.
• Recognize requirements for determining a transaction price under FASB ASC 606.
• Recognize requirements for allocating a transaction price under FASB ASC 606.”

Major Topics

5-step process for recognizing revenue

Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Accounting and Auditing
CPE Field of Study
Accounting
4
Who Should Attend

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

Instructor(s)
Jeanette Bax-Kurtz
Prerequisites

Experience in the application of accounting standards

Advanced Preparation

None

Location
Online
Event Information
When
Nov 23, 2021
8:00 am - 11:30 am EDT
Location
Online
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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