Interpreting the New Revenue Recognition Standard: What All CPA’s 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 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.

Learning Objectives
  1. After completing this course you will be able to:
  2. Recognize new revenue recognition principles
  3. Identify appropriate revenue recognition decisions
  4. 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
Professional Area of Focus
Accounting & Auditing
Business & Industry
Practitioners
Advanced Preparation
None
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
Course Level
Intermediate
Instructor(s)
Christopher Rouse
Prerequisites
None
Advanced Preparation
  1. None
Location

Mount Continuing Studies Center, 5350 Spectrum Dr Frederick, MD 21703-7338

View in Google Maps
Register Now
When
Nov 15, 2017
12:00 pm - 3:30 pm
Location
Mount Continuing Studies Center, 5350 Spectrum Dr Frederick, MD 21703-7338
Total CPE Credits
4
Format
In-Person
Instructor
Christopher Rouse

MEMBER


$ (% off)
$150.00

NON-MEMBER


$ (% off)
$200.00
Become a Member

Register for this Event

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


Loading