Recognize new revenue recognition principles. Identify appropriate revenue recognition decisions. Identify steps to take today to be prepared for future implementation.
Experience in the application of accounting standards
The new accounting standard for revenue recognition was released in 2014 but its effective date is right around the corner. With the issuance of FASB ASU No. 2014-09, Revenue from Contracts with Customers, FASB has completed a convergence project. For years, revenue recognition has been the cause of audit failures and the focus of corporate abuse and fraud allegations. Obtain an in-depth understanding of the framework for revenue recognition built around the core principle that is applied in a five-step process. In addition, gain an understanding of the changes and new requirements that are critical for successful implementation of the new standard. Supported by practical examples, this course will assist you in avoiding revenue recognition traps and provide you with latest FASB guidance.
Delivery Method: Group internet-based
CPE Credit: Accounting
Program Level: Intermediate