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Implementing Topic 606: Adopting the New Revenue Recognition Standard (LIVEBROADCAST)

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Overview

Whether you are ready or not, the effective date of the new revenue recognition standard is right around the corner. The time to execute your implementation plan is now. Are you ready? In this course, in addition to reviewing the five-step revenue recognition model and the recent Updates that impact the standard, we will explore some industry specific topics that have been challenging for entities adopting the new standard. Topics covered include identifying performance obligations, licenses, customer loyalty programs, other "material right" options, plus other transition issues such as the impact on income taxes and financial systems. As you sprint toward implementation, this course will help make sure that the wind stays at your back.

Prerequisites

Experience in financial accounting and reporting

Objectives

  • Apply the FASB's new revenue recognition guidance found in ASC Topic 606 Describe the FASB's new five-step revenue recognition model Discuss the presentation and disclosure requirements in the new standard Utilize hands-on examples and illustrations to increase your overall understanding and application of the material Comprehend industry and issue specific guidance related to revenue recognition * Identify operational implementation issues related to adopting the new standard

Highlights

  • ASC Topic 606, Revenue from Contracts with Customers The FASB's new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance Presentation and disclosure requirements Recent ASUs that provide implementation guidance for the standard Industry specific implementation issues and guidance Identifying performance obligations Accounting for licenses Identifying a "material right" in an option Other operational issues related to implementation * Feedback from public entity implementation of Topic 606

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Event Materials

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Printed manuals can be ordered by in-person attendees 7+ days in advance of most seminars or conferences. Pick these up at registration the day of the event. Electronic versions can be saved to your desktop, laptop or storage device and can be printed in part or wholly by registered attendees.

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Materials are generally available 3 days in advance of an event. Once you have downloaded the manual, we are unable to cancel your registration.

Event Code:

NRRS611

8 CPE Credits
Accounting: 8 Credits

Registration

Member Price:
$299 $349
Non-member Price:
$399 $449
    Register by May 21st for Early Bird Pricing.

    Registration is open through 06/10.

    Tuesday, June 11th

    8:00am to 4:00pm
    (Check-In 7:30am)

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    Gratzer Education Center

    1735 Alliant Ave.
    Louisville, KY 40299

    Map and Directions

    Instructor

    Curtis Quickel