August 30, 2017


In-Person

Alabama Society of CPAs
1041 Longfield Ct, Montgomery, Montgomery County, Alabama 36117-8056


4 Total CPE Credits

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A Real-Life Look at Revenue Recognition in Today's GAAP & What May Lie Ahead

  • Instructor

    Ray Thompson

Learning Objectives

  • Upon completion of this course, participants will:
  • Identify the new core revenue recognition principle and the five key steps in applying it
  • Recognize the new concepts of performance obligation, contract asset and contract liability
  • Know when it is appropriate to use recognition revenue at a point in time, or over time - and if so, how much
  • Be aware of how the new standard will affect your company, and the transition options

Major Topics

  • The core revenue recognition principle
  • The five-step process for recognizing revenue
  • Identifying contracts with customers and identifying separate performance obligations within a contract
  • Determining the transaction price of a contract
  • Allocating the transaction price to performance obligations
  • Recognizing revenue as performance obligations are satisfied
  • Special situations: contract modifications, warranties, contract-related costs, licenses, gross versus net presentation - and many other examples
  • Presentation and disclosure
  • Business implications
  • Transition planning
  • Activities of the Transition Resource Group and the outlook for the future

CPE Credits Available

4
Total CPE
4
Accounting & Auditing

Alabama Society of CPAs

1041 Longfield Ct, Montgomery, Montgomery County, Alabama 36117-8056

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Things to Know About This Course

Course Level

  • Intermediate

Prerequisites

Basic knowledge of accounting

Advanced Preparation

None

Intended Audience

Finance and accounting professionals

Provider

Business Learning Institute

This event has ended.