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

Date: November 15, 2017 Time: 12:00 pm - 3:30 pm EST Location: Frederick, MD CPE: 4 Format: In-Person
EVENT 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
After completing this course you will be able to:
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
EVENT DETAILS
PROFESSIONAL AREAS OF FOCUS
Accounting & Auditing Business & Industry Practitioners
ADVANCED PREPARATION
None
CPE FIELD OF STUDY
Accounting (4 Credits)
WHO SHOULD ATTEND
Accountants in public practice and industry who need an update on the latest revenue recognition guidance
INSTRUCTOR(S)
Christopher Rouse
PREREQUISITES
None
COURSE LEVEL
Intermediate
LOCATION
Mount Continuing Studies Center 5350 Spectrum Dr, Frederick, MD 21703, USA
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