• Describe significant differences in accounting and financial reporting before and after ASU 2014-09 and related changing U.S. GAAP
• Explain important aspects of revenue recognition that are NOT changing with the new rules
• Apply tips for implementing and transitioning to the new revenue recognition model

• Identifying contracts with customers under the old and new rules
• Defining performance obligations to the customer under the old and new rules, including when multiple obligations are involved
• Determining the total transaction price under the old and new rules, including non-cash and long-term financing considerations
• Allocating the transaction price and recognizing revenue as performance obligations are satisfied
• Responsibilities of accounting, finance, legal, tax, governance in transitioning to the new U.S. GAAP rules
• Illustrative examples of the treatment of various scenarios under the old and new rules

None