New

Revenue Recognition: Mastering the New FASB Requirements (Self-Study)

Code: JI164242

Date Valid for one year from purchase date
Format Self-Study (On-Demand)
CPE credits CPE 6.0
Field(s)
of study
Accounting - Technical (6.0)
Fees
Standard member fee $99.00
checkmarkStandard nonmember fee $129.00

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Description

For years, revenue recognition has been the cause of audit failures and the focus of corporate abuse and fraud allegations. This CPE course will provide you with an in-depth understanding of the framework for revenue recognition built around the core principles that are 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. You will also gain an understanding of how the new guidance impacts certain industries as a result of new criteria for recognizing revenue and changes in disclosure requirements.

Who should take this program?

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

Major subjects

  • 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

Learning objective(s)

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

Notes:

Course code Code JI164242
Sponsor AICPA
NASBA ID#: 112891
Level Intermediate
Format Self-Study (On-Demand)
Prerequisites Prereq. None
Advance
prep
None