4.00 CPE Credit Hours
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.
Designed For
Accountants in public practice and industry who need an update on the latest revenue recognition guidance
Objective
- 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
Prerequisites
Experience in the application of accounting standards
Advanced Preparation
None
Developer
AICPA
Presenters
Leah Donti,
Level of Knowledge
Intermediate
Course Location
EideBailly LLP
345 N. Reid Pl. Suite 400
PO Box 5125
Sioux Falls, SD 57103
Member
$145.00
Late
Registration *
$170.00
Non-Member
$170.00
Late
Registration *
$195.00
* If postmarked after 11/15/2018
AICPA Members
Receive a $30 Discount on AICPA Courses!