Course ID: RRMODEL

The Impact of the New Revenue Recognition Model

ASU Topic 606 related to Revenue Recognition contains authoritative guidance on the sweeping new model for recognizing revenues in contracts with customers. As a result of his monumental initiative, the amount or timing of revenue recognition may have changed, but also presentation and disclosure.


Learning Objectives

  • Describe significant differences in accounting and financial reporting before and after ASU 2014-09 and related changing U.S. GAAP
  • Explain important aspects of revenue recognition that are NOT changing with the new rules
  • Apply tips for implementing and transitioning to the new revenue recognition model

Major Topics

  • Describe the real-life impacts of adopting the new 5-step revenue recognition model on a variety of industries
  • Important judgment calls that may impact the timing and/or amount of revenue recognized
  • Unitended consequences that may have emerged from adopting the new model
  • The most significant changes from previous accounting and financial reporting rules, including disclosures

Advanced Preparations

None


Who Should Attend

  • Describe examples of real-life impacts of adopting the new revenue recognition model to a variety of industries
  • Discuss the value of required and optional revenue recognition disclosures
  • Explain how the new model creates more consistency in financial reporting for all entities

Fields of Study

Accounting

Prerequisites

None


Provider

Business Learning Institute

CPE Credits

2.0

Level

Basic

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 team@blionline.org
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