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

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 financial reporting practices.

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 currently available for registration

DateHost OrgCPEFormat
03/21/19 New York State Society of CPAs 8.0 Group Live Register Now

This course is available for your group as:

Group Live
 

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