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

  • 05/24/2019
  • 8:00 AM - 12:00 PM
  • WEBINAR AICPA

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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.   

Topics Discussed 
- 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

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.

Designed For: Accountants in public practice and industry seeking an understanding of the latest revenue recognition guidance
Level: Intermediate
Instructor: Renee Rampulla
Developer: AICPA
CPE Credits: 4
Area of Study: Accounting  4
Prerequisite: Experience in the application of accounting standards


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