Course ID: REVLEASE

Implementing FASB’s Rev Rec Standard and Preparing for the Lease Accounting Revolution

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.)


LEARNING OBJECTIVES
  • 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

MAJOR TOPICS
  • 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

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 project

FIELD OF STUDY
Accounting

PREREQUISITES
Prior learning or experience in revenue accounting

COURSE PRODUCER
Business Learning Institute

CPE CREDITS
8.0

LEVEL
Update

This course is available for your group as:

Group Live
 

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