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

You Pay: $249.00
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This course is 4.00 credits
Instructor
Renee Rampulla
Fields of Study
Accounting, Auditing
Course Level
Intermediate
Vendor
American Institute of CPAs

Instructor

Renee Rampulla

Renee Rampulla has over twenty years of professional experience. She writes, lectures, and consults on technical accounting and auditing issues. Renee has extensive experience in the auditing of public and privately held entities ranging from the manufacturing and service sectors, to financial services. Previously she was a partner in a regional accounting firm in the northeast in charge of the firm’s accounting and auditing practice and their quality control group. Renee is the president and founder of Rampulla Advisory Services, LLC. Her clients include nationally recognized professional organizations, accounting firms, companies, publishers and others. By devoting several years of her career at both regional and Big Four accounting firms Renee accumulated a wealth of technical and practical knowledge. In addition, she was a senior staff member of the American Institute of Certified Public Accountants (AICPA). At the AICPA Renee worked closely with senior technical committees, presented technical guidance before standard setters, and authored and updated several authoritative and non-authoritative publications. For several years Renee was an adjunct lecturer at a university in New York City where she taught numerous undergraduate accounting and auditing courses. Renee enjoys teaching and is an instructor and author of several continuing professional education courses for the New York State Society of Certified Public Accountants’ (NYSSCPA) Foundation for Accounting Education (FAE) and other organizations, covering a variety of accounting and auditing topics. Renee holds a BBA in Public Accounting from Bernard M. Baruch College. She is a member of the AICPA, the NYSSCPA, the New Jersey State Society of Certified Public Accountants (NJSCPA), the Institute of Management Accountants, the American Woman’s Society of Certified Public Accountants, and the Association of Certified Fraud Examiners. Renee serves as a committee member of the NYSSCPA’s Professional Ethics committee. She is currently the vice-leader of the NJSCPA’s Accounting and Auditing Standards Interest Group, becoming leader in June 2012. Previously she served as co-chair of the NJSCPA Accounting Standards and IFRS sub-committee interest groups.
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Registration Fees

MSCPA-AICPA Member
$169.00
MSCPA Member
$199.00
AICPA Member
$219.00
Non-Member
$249.00
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Thursday, May 27, 2021
8:45am – 12:15pm

The effective date of FASB ASC 606, Revenue from Contracts with Customers, is upon us! Do you know which contracts are within the scope of the standard and when revenue should be recognized at a point in time of over time? This course answers those questions by providing a basic understanding of the five-step process for recognizing revenue under FASB ASC 606. Supported by practical examples, this course addresses core principles that all CPAs need to know. Recent updates to this course include the latest guidance from FASB, industryspecific examples taken from the AICPA Audit and Accounting Guide Revenue Recognition, as well as disclosure illustrations.

Designed For

Accountants in public practice, industry, and academia who need an update on the latest revenue recognition guidance

Course Objectives

This course is intended to familiarize the learner with the core principles of recognizing revenue from contracts with customers. When you complete this course you will be able to:
  • Recognize principles of FASB ASC 606.
  • Recognize requirements for identifying a contract under FASB ASC 606.
  • Recognize performance obligations under FASB ASC 606.
  • Recognize requirements for determining a transaction price under FASB ASC 606.
  • Recognize requirements for allocating a transaction price under FASB ASC 606.

Major Subjects

  • 5-step process for recognizing revenue

Prerequisites

Experience in the application of accounting standards

Registrants

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