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ADDRESS: 901 Dulaney Valley Road, Suite 800
Towson, MD 21204
PHONE: 888-481-3500
FOLLOW BLI:
Implementing FASB’s Rev Rec Standard and Preparing for the Lease Accounting RevolutionCOURSE ID: REVLEASE
DESCRIPTION

Revenue is probably the most important number in the financial statements. This course provides a comprehensive analysis of ASU 2014-09 and its impact on your company and/or clients. Since the new leasing standard will be implemented at the same time, the seminar will explain the new standard and discuss links between them. Participants will determine the relative emphasis on the two areas. (This course is available in a 4 and 8-hour format.)

DESIGNED FOR: Preparers and accountants in public practice who need to understand the new revenue reporting rules, their practical impact on a company’s performance and the possible linkages with the leasing projectFIELD OF STUDY: AccountingLEVEL: UpdatePREREQUISITES: Prior learning or experience in revenue accountingCOURSE PRODUCER: Business Learning InstituteCREDITS: 8.0OBJECTIVES:
  • Participants will:
  • Understand the fundamental principles of the contract- based approach to revenue set out in ASU 2014-09 and subsequent updates
  • Learn how to analyze contracts and account for them in terms of their performance obligations
  • Study how basic guidance is interpreted in more complex transactions using extensive implementation examples.
  • Become aware of the multiple deliverables and percent of completion issues and their effect on revenue realization.
  • Understand how the transition from operating leases to capitalization will affect companies of all sizes
  • Learn how the balance sheet treatment of leases will alter financial statement numbers, ratios, and loan covenants
  • Become familiar with the right of use model for capitalizing leases
HIGHLIGHTS:

* The asset-based approach to revenue recognition
* Analyzing contracts and performance obligations
* Continuous delivery and percent of completion
* Multiple deliverables and contract separation
* Disclosures – a different approach
* The asset-liability approach to leases and its effect on the balance sheet
* Implementing the right of use model for lessees and lessors
* Implementation and transition considerations

UPCOMING SCHEDULED COURSES
Download the 2016 Business Learning Institute Course Catalog DOWNLOAD PDF
Business Learning Institute - Course Catalog
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