Guide to the Topic 606 Revenue Recognition Model for all CPAs [REV4]

Full Description

Guide to the Topic 66 Revenue Recognition Model for all CPAs (REV4)

November 5, 2019

Sheraton Anchorage Hotel & Spa
401 E. Sixth Avenue
Anchorage, AK

LATE REGISTRATION POLICY
For registrations received less than 21 days from the course date will be charged a late fee of $50 for each 8 hour course and $25 for each 4 hour course and $12.50 for each 2 hour course.

The effective date for Topic 606, Revenue from Contracts with Customers, is rapidly approaching. Are you ready? Designed for accounting and auditing practitioners at all levels in both public accounting and business and industry, this course provides a thorough review of the FASBs comprehensive new revenue recognition guidance found in Topic 606. The course will review all aspects of the FASBs new five-step revenue recognition model, including all updates which have been issued to the original ASU. Additionally, the course will review the presentation, and disclosure requirements of the standard. Plenty of examples are used to illustrate the practical application of the ins and outs of the new guidance (including journal entries) to help you better understand and apply the complexities of this completely revamped area of accounting. Revenue recognition changes due to this new guidance could impact wording in contracts, tax planning strategies, budgets, debt covenant compliance, incentive compensation plans, and more. In other words, this comprehensive change in revenue recognition is so much more than simply understanding the resulting debits and credits in the financial statements. As such, it is imperative that all accounting and auditing practitioners at all levels, in both public accounting and business and industry, begin their review and preparation for implementing Topic 606 NOW.

Major Topics:
- Topic 606, Revenue from Contracts with Customers, including recently issued ASUs impacting Topic 606
- The FASBs new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance
- Presentation and disclosure requirements

Learning Objectives:
- Explain the FASBs new revenue recognition guidance found in Topic 606
- Describe the FASBs new five-step revenue recognition model
- Discuss the presentation and disclosure requirements in the new standard
- Utilize hands-on examples and illustrations to increase your overall understanding and application of the material
- Feedback from public entity implementation of Topic 606

Designed For: Accounting and auditing practitioners at all levels desiring to understand the FASBs new revenue recognition guidance

CPE Credits: 4, Accounting & Auditing

Level of Knowledge: Intermediate

Prerequisite: Experience in accounting and auditing

Acronym: REV4

Discussion Leader: Michael Morgan, CPA

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