Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know

Description

The new accounting standard for revenue recognition has finally been released! 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 webcast 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.

Learning Objectives
  1. Recognize new revenue recognition principles~
  2. Identify appropriate revenue recognition decisions~
  3. Identify steps to take today to be prepared for future implementation~
Major Topics
  1. Background, purpose, and main provisions of new standard
  2. Transition guidance
  3. 5-step process for recognizing revenue
  4. Disclosure requirements
  5. Implementation guidance – contracts, tax matters, internal controls, IT
Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Tax
Accounting & Auditing
CPE Field of Study
Accounting
4
Who Should Attend
Accountants in public practice & industry who need an update on the new revenue recognition guidance
Instructor(s)
Renee Rampulla
Prerequisites
Experience in the application of accounting standards
Location
Online Course
Register Now
When
Jan 26, 2018
1:00 pm - 5:00 pm
Total CPE Credits
4
Format
Webcast
Instructor
Renee Rampulla

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Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know


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