Description
ASU 2014-09 (and subsequent related ASUs) is one of the most monumental changes in U.S. GAAP to ever occur – and it impacts every entity out there, regardless of nature, size and complexity. This course will use an illustrative example approach to clearly demonstrate the impact on revenue recognition under existing and changing U.S. GAAP.
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Learning Objectives
Upon completion of this course, participants will possess:
- Describe significant differences in accounting and financial reporting before and after ASU 2014-09 and related changing U.S. GAAP
- Explain important aspects of revenue recognition that are NOT changing with the new rules
- Apply tips for implementing and transitioning to the new revenue recognition model
Major Topics
- Identifying contracts with customers under the old and new rules
- Defining performance obligations to the customer under the old and new rules, including when multiple obligations are involved
- Determining the total transaction price under the old and new rules, including noncash and long-term financing considerations
- Allocating the transaction price and recognizing revenue as performance obligations are satisfied
- Responsibilities of accounting, finance, legal, tax, governance in transitioning to the new U.S. GAAP rules
- Illustrative examples of the treatment of various scenarios under the old and new rules
Provider
Business Learning Institute
Course Level
TBD
CPE Field of Study
Accounting
4.0
Who Should Attend
Public and industry accountants responsible for monitoring the proper treatment of revenue recognition obligations
Instructor(s)
Jennifer Louis
Prerequisites
None
Advanced Preparation
None
Location
Live – Online Webcast
Register Now
When
Jun 24, 2021
1:00 pm - 4:30 pm EST
1:00 pm - 4:30 pm EST
Location
Live – Online Webcast
Total CPE Credits
4.0
Format
Live Webcast
MEMBER
$160.00
NON-MEMBER
$210.00
Register for this Event
Beach Retreat: Revenue Recognition Before and After New US GAAP: Case Studies of the Impact of Applying Changes in Accounting and Financial Reporting
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