Revenue Recognition: Mastering the New FASB Requirements

The start date for this course has passed. Registration is no longer available.

This course is 8.00 credits
Facility Name
Sheraton Framingham
Facility Address
1657 Worcester Rd
Framingham, MA 01701-5403
Fields of Study
Accounting, Finance
Course Level
Intermediate
Vendor
American Institute of CPAs

Registration Fees

MSCPA-AICPA Member
$249.00
MSCPA Member
$279.00
AICPA Member
$349.00
Non-Member
$379.00
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Wednesday, Jun 21, 2017
8:45am – 4:30pm

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.

This seminar qualifies for the Workforce Training Express Fund program. The course code for this program is 1112962 
Click here for more details:
https://www.mscpaonline.org/cpe/training_fund

Designed For

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

Course Objectives

When you complete this course you will be able to:  Recognize new revenue recognition principles.  Identify appropriate revenue recognition decisions.  Identify steps to take today to be prepared for future implementation.

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

Prerequisites

Experience in the application of accounting standards

The start date for this course has passed. Registration is no longer available.