Idaho Society of CPAs

Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know

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  • Location
    • Your Computer
      Your Space
      ISCPA / AICPA Webinar, ID 00000
  • Credits
    • 4.00
  • Credit Type(s)
    • Accounting (4.00)
  • Prerequisites

    • Experience in the application of accounting standards

  • Vendor
    • AICPA
  • Level
    • Intermediate
  • Fields of Study
    • Accounting
  • Message
    • Virtual Experience

Description

  • Presented by Renee Rampulla


  • Presentation type = pre-record/rebroadcast


    • The effective date of FASB ASC 606, Revenue from Contracts with Customers is upon us (bold)

    Do you know which contracts are within the scope of the standard and when revenue should be recognized?

    This webcast addresses the requirements of FASB ASC 606's five-step process for recognizing revenue:

    1) Identifying a contract with a customer
    2) Determining the performance obligations
    3) Determining a transaction price
    4) Allocating a transaction price
    5) Recognizing revenue

    Designed For

    Accountants and finance professionals in public practice, industry and academia

    Objectives

    • Apply principles of FASB ASC 606
    • Determine requirements for identifying a contract under FASB ASC 606
    • Apply performance obligations under FASB ASC 606
    • Determine requirements for determining a transaction price under FASB ASC 606
    • Determine requirements for allocating a transaction price under FASB ASC 606

    Highlights

  • 5-step process for recognizing revenue

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    Leaders

    AICPA Panel

    No Biography Available

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