Self-Study

Revenue Recognition: Mastering the New FASB Requirements

  • Tuesday, May 1, 2018 – Thursday, April 30, 2020

  • 6
    CREDITS
    Accounting

For years, revenue recognition has been the cause of audit failures and the focus of corporate abuse and fraud allegations. This CPE course will provide you with an in-depth understanding of the framework for revenue recognition built around the core principles that are 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. You will also gain an understanding of how the new guidance impacts certain industries as a result of new criteria for recognizing revenue and changes in disclosure requirements.

Objectives

  • Understand new revenue recognition principles
  • Make appropriate revenue recognition decisions
  • Identify steps to take today to be prepared for future implementation

Highlights

  • Background, purpose, and main provisions of the new standard
  • Transition guidance
  • 5-step process for recognizing revenue
  • Disclosure requirements
  • Implementation guidance - contracts, tax matters, internal controls, IT

Additional Information

Designed For

Revenue, Recognition, FASB, Accounting

Vendor

American Institute of CPAs

Field of Study

Accounting

Course Number

18AIS0022

Level of Knowledge

Intermediate

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