Mobile Edition


Revenue Recognition: Mastering the New FASB Requirements (AIRRM08)

 
Date:Tuesday, December 26, 2017
Time:9:00 AM - 5:00 PM
(Registration at 8:30 AM)
Facility:Webcast or Webinar, Online
CPE Credit:8.0 Accounting and Auditing
Instructor: Renee Rampulla
Vendor:AICPA
Course Level:Intermediate
Early Bird Price:$249.00 FICPA Members, $319.00 Non-Members

Description:
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. TOPICS DISCUSSED  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

Objectives:
When you complete this course you will be able to:  Recognize new revenue recognition principles.  Identify appropriate revenue recognition decisions.  Identify steps to take today to be prepared for future implementation.

Who Should Attend:
Accountants in public practice & industry who need an update on the new revenue recognition guidance

Prerequisite:
Experience in the application of accounting standards

Session/Options

If listed below, select the appropriate sessions or options to continue with your purchase.

Registration Status: CLOSED - Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.