Seminar Course Description

Revenue Recognition: Mastering the New FASB Requirements

Locations

CITY STATE DATES OFFERED STATE SOCIETY WEBSITE
Phoenix Arizona Feb 15, 2021 ASCPA
Little Rock Arkansas Jun 16, 2020 ARCPA
Denver Colorado Dec 14, 2020 COCPA
Atlanta Georgia Oct 08, 2020 GSCPA
Indianapolis Indiana Oct 29, 2020 INCPAS
Louisville Kentucky Aug 18, 2020 KYCPA
Massachusetts Nov 20, 2020 MSCPA
Massachusetts Jun 15, 2020 MSCPA
Troy Michigan Oct 30, 2020 MICPA
Bloomington Minnesota Oct 20, 2020 MNCPA
New Jersey Oct 28, 2020 NJCPA
New York City New York Jun 09, 2020 NYSSCPA
Greensboro North Carolina Dec 02, 2020 NCACPA
Tulsa Oklahoma Sep 29, 2020 OSCPA
Beaverton Oregon Oct 19, 2020 OSCPA
Eugene Oregon Jun 16, 2020 OSCPA
Brentwood Tennessee Sep 17, 2020 TSCPA

The effective date of the new accounting standard for revenue recognition is upon us!

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.

Learning Objective

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.

Topics Dicussed

  • 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
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COURSE CODE

INRR

FIELD OF STUDY

  • Accounting

CPE CREDIT HOURS

8

KNOWLEDGE LEVEL

Intermediate

INTENDED AUDIENCE

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

PREREQUISITE

Experience in the application of accounting standards

ADVANCED PREPARATION

None

DELIVERY METHOD

Group Live, Self-Study On-Demand, Webcast

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Contact State Societies for Public Seminar Pricing and Additional Information

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