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Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know (AIINRR06)

 
Date:Wednesday, September 4, 2019
Time:1:00 PM - 5:00 PM
(Registration at 12:30PM)
Facility:Webcast or Webinar, Online
CPE Credit:4.0 Accounting and Auditing
Instructor: Renee Rampulla
Vendor:AICPA
Course Level:Intermediate
Early Bird Price:$179.00 FICPA Members, $229.00 Non-Members

Description:

The new accounting standard for revenue recognition was released in 2014 but its effective date is right around the corner. With the issuance of FASB ASU No. 2014- 09, Revenue from Contracts with Customers, FASB has completed a convergence project. 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.



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.



Major Topics:

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



Who Should Attend:
Accountants in public practice and industry seeking an understanding of the latest 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.