Revenue Recognition: Mastering the New FASB Requirements

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  • Date/Time
    • Nov 12, 2018
    • Sign In: 7:45am (Mountain Time)
    • Program: 8:00am - 3:45pm (Mountain Time)
    • Add to Calendar
  • Location
    • Your Computer
  • Credits
    • 8.00
  • Credit Type(s)
    • Accounting (8.00)
  • Prerequisites
    • Experience in the application of accounting standards

  • Vendor
    • *** ISCPA ***
  • Level
    • Intermediate
  • Fields of Study
    • Accounting & Auditing

Description

Web version for those Outside the Treasure Valley

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.

Designed For

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

Objectives

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

Highlights

  • 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

Advanced Prep

  • Download PDF manual - view your upcoming events in "My CPE" on website
  • Test your computer/device for compatibility with virtual meeting space well in advance of your webinar

Register Now

Registration is closed. Please contact ISCPA at 208-344-6261 or email cpe@idcpa.org if you have any questions.

Leaders

Jennifer Elder

Jennifer H. Elder, CPA, CMA, CIA, CFF

Jennifer Elder, CPA, CMA, CIA, CFF, CGMA is a keynote speaker, trainer, and business coach in the business of business transformation. For more than 20 years, she has been helping businesses by peeling back the layers of “administrivia” and finding the hidden strengths and core values that make you and your company awesome. Jennifer works with businesses to develop a compelling business strategy that is quick to implement that transforms your company from what you are now to what you have always wanted it to be. Known for being energetic and enthusiastic, Jennifer has been delivering high-quality, customized training that make complicated topics easy to understand, relevant, and useful. She has conducted seminars for the Fortune 500, US Government, State CPA Societies, and CPA Firms in 33 states. Her sessions are highly interactive, full of discussion, and even a little entertaining. Jennifer received her BA from the University of Massachusetts and an MS in Organizational Management from Antioch University New England. She lives on her boat near Annapolis, Maryland.

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