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20WI-0473: Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Date Monday, January 18, 2021
Time 8:00am - 12:00pm
Central Time
Location Online
CPE credits CPE 4.0
Field(s)
of study
Accounting - Technical (4.0)
Instructor Renee Rampulla, CPA, CGMA
American Institute of Certified Public Accountants
Fees
Standard Member Fee $179.00
Standard Nonmember Fee $219.00

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.

Who should take this program?

N/a

Major subjects

  • 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

Learning objective(s)

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

Notes:

Course code Code 20WI-0473
Sponsor AICPA
NASBA ID#: 112891
Level Intermediate
Format Group Internet Based
Prerequisites Prereq. Experience in the application of accounting standards
Advance
prep
None

If you have questions about this event, please call us at 952-831-2707.