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Live Webinar SELECT STARTING AT $139

Credits: 4

Qualifies For:

$139

Upcoming webinars

December 21, 2016
01:00 pm - 04:30 pm (EST)

Instructor(s): Richard Daisley, CPA

February 17, 2017
01:00 pm - 04:30 pm (EST)

Instructor(s): Richard Daisley, CPA

February 27, 2017
01:00 pm - 04:30 pm (EST)

Instructor(s): Richard Daisley, CPA

See More Upcoming Webinar Dates >

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Self-StudySELECT STARTING AT $65

Downloadable PDF

Credits: 4

Qualifies For:

$65

Textbook

Credits: 4

Qualifies For:

$80

On-Demand Webcast

Credits: 4

Qualifies For:

$89
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  • The presenter did a great job. He was very knowledgable and engaging.

    - Surgent customer

  • Never had a course from Mr. Daisley before. Found him to be wonderful. Will definitely look for his name again.

    - Surgent customer

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Guide to the New Revenue Recognition Model for All CPAs (REV4)

  • Customer Rating
  • Field of Study
    Accounting
  • Level
    Intermediate
  • Credits
    4
  • Qualifies for

    CPE

Overview

Designed for accounting and auditing practitioners at all levels in both public accounting and business and industry, this course provides a thorough review of the FASB’s comprehensive new revenue recognition guidance found in ASU No. 2014-09, Revenue from Contracts with Customers. The course begins with a quick overview of the new guidance from 30,000 feet, before diving into the details of the FASB’s new five-step revenue recognition model. Additional guidance, presentation, and disclosures are then covered before the course wraps up with a brief look at changes already being proposed to the new guidance. Plenty of examples are used to illustrate the practical application of the ins and outs of the new guidance (including journal entries) to help you better understand and apply the complexities of this completely revamped area of accounting. It is important to note that while the FASB had decided to defer the original effective date of ASU No. 2014-09 by one year for both public and nonpublic entities, this does not mean that entities should delay investigating the impact of the new standard given their specific circumstances. Revenue recognition changes could impact wording in contracts, tax planning strategies, budgets, debt covenant compliance, incentive compensation plans, and more. In other words, this comprehensive change in revenue recognition is so much more than simply understanding the resulting debits and credits in the financial statements. As such, it is imperative that all accounting and auditing practitioners at all levels, in both public accounting and business and industry, begin their review and preparation for implementing ASU No. 2014-09 NOW.

Major Topics:

  • ASU No. 2014-09, Revenue from Contracts with Customers
  • The FASB's new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance
  • Presentation and disclosure requirements

Learning Objectives

  • Explain the FASB’s new revenue recognition guidance found in ASU No. 2014-09
  • 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

Who should take this course:

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

Advanced Preparation:

None

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