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Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know

Monday, October 24 8:00am - 11:30am

(Check-In 7:30am)

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Holiday Inn

1100 5th St S
Great Falls, MT 59405

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4.00 Credits

Member Price $138.00

Price will increase by $25 after 10/3

Non-Member Price $163.00

Price will increase by $25 after 10/3

Overview

All materials will be electronic only

The effective date of FASB ASC 606, Revenue from Contracts with Customers, is upon us! 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. Recent 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

Prerequisites

Experience in the application of accounting standards.

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 recognizing revenue 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.

Preparation

None

Leader(s):

Leader Bios

Michael Brand

Michael L. Brand is a partner in the firm of Johnson, Feigley, Newton & Brand in Athens, Alabama. For the past 23 years, he has been involved in all aspects of public accounting with in emphasis in accounting, auditing, and review services. He also teaches continuing education classes and has been a speaker at several conferences nationwide. He is the current chair of the Alabama Society of Certified Public Accountants Peer Review Committee and the Accounting and Review Services Committee. Brand’s experience involves audits, reviews, and compilations of various for-profit industries, not-for-profits, and governmental entities. He was formally on the Peer Review Board, Joint Trial Board, and the Quality Control Standards Task Force. In 2010 and 2011 he received the Outstanding Discussion Leader Award. Brand received his BS in accounting from the University of North Alabama.

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Non-Member Price $163.00

Member Price $138.00