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Revenue Recognition: Mastering the New FASB Requirements (A) - VIRTUAL

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Overview

This live seminar will be presented virtually. The speaker will present from his/her location and you can interact with the instructor and other attendees in real time. The effective date of the new accounting standard for revenue recognition is fast approaching! 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. In addition, you will understand how the new guidance impacts certain industries as a result of new criteria for recognizing revenue and changes in disclosure requirements. Recent updates to this course include industry-specific examples taken from the AICPA Audit and Accounting Guide Revenue Recognition.

Objectives

  • Recognize new revenue recognition principles.
  • Identify appropriate revenue recognition decisions.
  • Identify steps to take today to be prepared for future implementation.

Highlights

  • 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

Register Now

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:

INRR818

8 CPE Credits
Accounting: 8 Credits

Registration

Member Price:
$299 $349
Non-member Price:
$399 $449
  • AICPA Members save an additional $30
Register by August 4th for Early Bird Pricing.

Registration is open through 08/17.

Tuesday, August 18th

8:00am to 3:30pm
(Check-In 7:30am)

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Instructor

Ronald Kral