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20WI-0492: Revenue Recognition: Mastering the New FASB Requirements (Webinar)

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

Tuesday, January 26, 2021
8:00am - 4:00pm Central Time
8 CPE (8 technical)

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.

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.

Who should take this program?

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

Fees

Our records indicate you are a nonmember. If you register, you will be charged $339.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.
Standard Member Fee $279.00
checkmark Standard Nonmember Fee $339.00

More program information

Instructor Renee Rampulla, CPA, CGMA
Location Online
Area
of study
Accounting & audit
Field(s)
of study
Accounting - Technical (8.0)
Level Intermediate
Format Group Internet Based
Sponsor AICPA
NASBA ID#: 112891
Prerequisites Prereq. Experience in the application of accounting standards
Advance
prep
None
Cancellation
policy
Receive a full refund if you cancel at least four business days before the event start date. Learn more

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