Interpreting the New Revenue Recognition Standard: What All CPAs Need To Know (4 Hours)

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Overview

4 Credits
IN-PERSON

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 the latest FASB guidance.

Objectives

When you complete this course you will be able to:

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

Major Topics

  • Background, purpose, and main provisions of the new standard
  • Transition guidance
  • 5-step process for recognizing revenue
  • Disclosure requirements
  • Implementation guidance - contracts, tax matters, internal controls, IT

 

Designed For

Accountants in public practice and industry who need an update on the latest revenue recognition guidance

Prerequisite

Experience in the application of accounting standards

Sessions

Please select the appropriate session or option below to continue with your online purchase

Monday, December 8, 2014

General Sessions

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FICPA Seminar EZMaterials! Instead of picking up paper manuals at the event, you’ll be able to download the EZMaterials as searchable PDFs to your laptop, tablet or other device seven days before the event. For an additional fee you may choose to purchase a hardcopy of the seminar manuals. If requested during registration at least eight days prior to the course, your hardcopy will be available for pickup at the event. Click here for more information.