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Technical

Revenue Recognition: Mastering the New FASB Requirements Logo aicpa

  Joann Noe Cross, PhD, CPA, CMA, CGFM, CGMA |   $119.00 - 209.00 |   CPE: 6.0-9.5 |   AICPA |   May 2019 |   Accounting |   AICPA Store
Avoid revenue recognition traps.
Who Will Benefit?
  • Accountants in public practice and industry seeking an understanding of the latest revenue recognition guidance.
Key Topics
  • Background, purpose, and main provisions of new standard
  • Transition guidance
  • Five-step process for recognizing revenue
  • Disclosure requirements
  • Implementation guidance — contracts, tax matters, internal controls, IT
Learning Objectives
  • Recognize new revenue recognition principles.
  • Identify appropriate revenue recognition decisions.
  • Identify steps to take today to be prepared for future implementation.

For years, revenue recognition has been the cause of audit failures and the focus of corporate abuse and fraud allegations. Today, we have FASB ASC 606, a new standard which is critical to understand before it can be successfully implemented.

Supported by practical examples, industry specific real-life scenarios, and more than a dozen exercises, this self-study course will assist you in avoiding revenue recognition traps and provide you with the latest FASB guidance. You’ll gain an in-depth understanding of the revenue recognition framework that’s built around the core principles of this new five-step process. And, you'll gain a better understanding of the changes in disclosure requirements.

Topics covered:
  • Management accounting: Technical: Financial accounting & reporting: Professional accounting standards, Intermediate
  • Financial accounting & reporting: Technical: FASB financial accounting & reporting: Revenue recognition, Intermediate

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