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Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know 1652086
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The new accounting standard for revenue recognition has finally been released! With the issuance of FASB ASU No. 2014-09, Revenue from Contracts with Customers, FASB has completed a convergence project with the IASB to improve financial reporting by creating common revenue recognition guidance for U.S. GAAP and IFRS. For years, revenue recognition has been the cause of audit failures and the focus of corporate abuse, as well as fraud allegations. This webcast will provide you with an in-depth

10/19/2018
When: 7:00 AM
Where: WEBINAR
AICPA
1652086:295A7C8BB88DD6A56DDC136961BF858B
United States
Contact: April Deneault
8018346634


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CPE 4 Hours
Category

Accounting

Level Intermediate
Vendor AICPA
Prerequisite Experience in the application of accounting standards
Fees: Early Bird
Standard
Member N/A
$159
Non-Member: N/A
$199

The Member rate applies to UACPA members and reciprocal state society members. To register online, use the ‘Register’ button above. To register by phone, call the UACPA at 801.466.8022, Monday through Friday, 8am to 4pm.

Description 
The new accounting standard for revenue recognition has finally been released! With the issuance of FASB ASU No. 2014-09, Revenue from Contracts with Customers, FASB has completed a convergence project with the IASB to improve financial reporting by creating common revenue recognition guidance for U.S. GAAP and IFRS.    For years, revenue recognition has been the cause of audit failures and the focus of corporate abuse, as well as fraud allegations. This webcast will provide you with an in-depth understanding of the framework for revenue recognition built around the core principle, which is applied in a five-step process. Understanding the changes and new requirements is critical for your successful implementation of this new standard. Therefore, this webcast provides practical examples to assist you in avoiding revenue recognition traps and covers the latest FASB guidance. 
  

Major Topics

  • Background, purpose, and main provisions of new standard
  • Transition guidance 
  • 5-step process for recognizing revenue 
  • Disclosure requirements  • Implementation guidance – contracts, tax matters, internal controls, IT

Objectives

  • Recognize new revenue recognition principles.
  • Identify appropriate revenue recognition decisions.
  • Identify steps to take today to be prepared for future implementation.

 

 

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