August 30, 2017

In-Person

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

4 CPE

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

August 30, 2017
In-Person
4 CPE

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

  • Instructor

    Ray
    Thompson

There is no other area of GAAP compliance more difficult than Revenue Recognition. We will look at critical issues involving today’s GAAP and what may be coming down the road.

This course is available via webcast.  Please click here.

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 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.