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(REV4) Surgent's Guide to the Topic 606 Revenue Recognition Model for All CPAs (REV4)
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While the effective date of Topic 606 is behind us, there will always be a need for a comprehensive review of the accounting related to revenue recognition. Plus, though year one of reporting under Topic 606 is complete, there is plenty of opportunity to improve your revenue recognition processes, benchmark against your peer group and refine your application of Topic 606, particularly in the area of financial statement disclosures. This course will review the basis Topic 606 5 Step model and p

8/4/2020
When: 08/04/2020
11:00 AM
Where: Webcast
SURGENT
REV4-2020-01-WEBNR-217-01
United States
Presenter: Richard Daisley, CPA


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Acronym: REV4

CPE:  4

Vendor: Surgent

Category:  Accounting (Technical) (4)

Level: Intermediate

Yellow Book? No

Registration Fees:

Members* $139

Non-Members $159

*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.

 

Course Description: 

While the effective date of Topic 606 is behind us, there will always be a need for a comprehensive review of the accounting related to revenue recognition.  Plus, though year one of reporting under Topic 606 is complete, there is plenty of opportunity to improve your revenue recognition processes, benchmark against your peer group and refine your application of Topic 606, particularly in the area of financial statement disclosures.

 

This course will review the basis Topic 606 5 Step model and provide specific implementation guidance and examples.  It will cover the presentation and disclosure requirements for Topic 606, including the private company disclosure relief available under Topic 606, and provide disclosure examples as well.  Lastly, the course will discuss best practices, lessons learned and ways to improve the recognition of revenue going forward.

 

Even though Topic 606 is behind us, it is still possible to improve the processes that drive revenue recognition.

 

Objectives:

 

Explain the FASB's new revenue recognition guidance found in Topic 606

Describe the FASB's new five-step revenue recognition model

Discuss the presentation and disclosure requirements in the new standard

Utilize hands-on examples and illustrations to increase your overall understanding and application of the material

View feedback from public entity implementation of Topic 606 

Recall best practices and areas for improvement in the recognition of revenue

 

Major Topics:

 

Topic 606, Revenue from Contracts with Customers, including recently issued ASUs impacting Topic 606

The FASB's new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance

Presentation and disclosure requirements

Lessons learned and best practices for improving business processes related to revenue recognition going forward

 

Designed For:  Accounting and auditing practitioners at all levels desiring to understand the FASB’s new revenue recognition guidance

 

Prerequisite:  Experience in accounting and auditing

 

Note: Login instructions will be provided by the webcast vendor.

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