Revenue Recognition – Implementing FASB’s Revenue Recognition Standard and Preparing for the Lease Accounting Revolution

Date: June 8, 2018 Time: 8:00 am - 3:30 pm EST Location: Columbia, MD CPE: 8 Format: In-Person
EVENT DESCRIPTION

Revenue is probably the most important number in the financial statements. This course provides a comprehensive analysis of ASU 2014-09 and its impact on your company and/or clients. Since the new leasing standard will be implemented at the same time the seminar will explain the new standard and discuss links between them. Participants will determine the relative emphasis on the two areas.

LEARNING OBJECTIVES
Understand the fundamental principles of the contract- based approach to revenue set out in ASU 2014-09
Learn how to analyze contracts and account for them in terms of their performance obligations
Study how basic guidance is interpreted in more complex transactions using extensive implementation examples.
Become aware of the multiple deliverables and percent of completion issues and their effect on revenue realization.
Understand how the transition from operating leases to capitalization will affect companies of all sizes
Learn how the balance sheet treatment of leases will alter financial statement numbers, ratios, and loan covenants
Become familiar with the right of use model for capitalizing leases
MAJOR TOPICS
The asset-based approach to revenue recognition
Analyzing contacts and performance obligations
Continuous delivery and percent of completion
Multiple deliverables and contract separation
Disclosures – a different approach
The asset-liability approach to leases and its effect on the balance sheet
Implementing the right of use model for lessees and lessors
Implementation and transition considerations
EVENT DETAILS
PROFESSIONAL AREAS OF FOCUS
Accounting & Auditing Business & Industry
CPE FIELD OF STUDY
Accounting (8 Credits)
WHO SHOULD ATTEND
Preparers and accountants in public practice who need to understand the new revenue reporting rules, their practical impact on a company’s performance and the possible linkages with the leasing project
INSTRUCTOR(S)
Ray Thompson
PREREQUISITES
Prior learning or experience in revenue accounting
COURSE LEVEL
Update
LOCATION
Loyola University Maryland Graduate Center Columbia Campus 8890 McGaw Rd, Columbia, MD 21045, USA

MACPA MEMBER


$ (% off)
$255.00
Price includes $xx early registration discount(s) - expires xx/xx
Price increases to $295.00 on 05/10/2018

NON-MEMBER


$ (% off)
$355.00
Price includes $xx early registration discount(s) - expires xx/xx
Price increases to $395.00 on 05/10/2018
REGISTER FOR THIS EVENT
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