Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know
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(Check-In 8:30am EST)
Virtual
4.00 Credits
Member Price $219.00
Non-Member Price $309.00
Overview
This course qualifies for reimbursement through the State Workforce Training Express Fund. Firms/companies with fewer than 100 staff will receive 100% of the cost of training reimbursed. You must register for this course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks before the start date of the course to be eligible. The course code for this program is C-2973. To learn more click here or contact Julia Ekelund at jekelund@mscpaonline.org.
The effective date of FASB ASC 606, Revenue from Contracts with Customers, is here! Do you know which contracts are within the scope of the standard and when revenue should be recognized at a point in time of over time? This course answers those questions by providing a basic understanding of the five-step process for recognizing revenue under FASB ASC 606. Supported by practical examples, this course addresses core principles that all CPAs need to know. Updates to this course include the latest guidance from FASB, industry-specific examples taken from the AICPA Audit and Accounting Guide, Revenue Recognition, as well as disclosure illustrations
Highlights
5-step process for recognizing revenue
Designed For
Accountants in public practice, industry, and academia who need an update on the latest revenue recognition guidance
Objectives
This course is intended to familiarize the learner with the core principles of revenue recognition from contracts with customers. When you complete this course, you will be able to: • Recognize principles of FASB ASC 606. • Recognize requirements for identifying a contract under FASB ASC 606. • Recognize performance obligations under FASB ASC 606. • Recognize requirements for determining a transaction price under FASB ASC 606. • Recognize requirements for allocating a transaction price under FASB ASC 606.
Leader(s):
Leader Bios
Michael Ussery, American Institute of CPAs
Mr. Michael Ussery is a principal in the firm of Pt. Platinum Consulting, LLC, which specializes in providing financial reporting, litigation support, SOX and internal audit services, and SEC compliance expertise to small- and mid-sized SEC registrants and accounting firms.
Before joining Pt Platinum Consulting, Mr. Ussery held various CFO and controller level positions at public and nonpublic companies and spent over 10 years in a “Big 4” accounting firm. Mr. Ussery’s career has focused on SEC reporting, US GAAP and internal accounting controls and has served as an expert witness in corporate governance matters and lawsuits dealing with internal controls and management roles and responsibilities.
Mr. Ussery is an accomplished speaker and has spoken to various organizations around the country on many topics. He has authored numerous CPE courses on such topics as SOX implementation, accounting failures, SEC reporting and foreign currency accounting.
Non-Member Price $309.00
Member Price $219.00