Course ID: REVLEASE

Revenue Recognition: Practical Approaches to Implementation

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. The course guides CPAs through the new analysis, judgments, estimation and disclosures this will involve. (This course is available in a 4 and 8-hour format.)


Learning Objectives

  • 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, real-life examples.
  • Become aware of the multiple deliverables and percent of completion issues and their effect on revenue realization.
  • 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
  • Analyze industry specific implementation issues using FASB’s 5 step approach.
  • Navigate through transition, disclosure and presentation challenges.

Major Topics

  • Analyzing contracts using the five step model
  • What can be learned from companies who have already implemented ASU 2014-09
  • Multiple deliverables and contract separation
  • Disclosures – a different approach
  • Effective date and transition implications
  • Capitalizing contract costs
  • Industry-specific considerations in implementation
  • Percent of completion and long term contracts
  • Accounting for contract pricing uncertainties

Who Should Attend

Preparers and accountants in public practice who need to understand the new revenue reporting rules, their practical impact on a company’s performance, and financial reporting practices.


Fields of Study

Accounting

Prerequisites

Prior learning or experience in revenue accounting


Provider

Business Learning Institute

CPE Credits

8.0

Level

Update

This course is available for your group as:

 

Let's Roll!

To learn more or customize this course for your group, complete this form and a BLI team member will get back with you shortly.


Or, contact BLI: 888-481-3500 or learn@blionline.org
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