Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know

Thursday, October 27 8:30am - 12:00pm

(Check-In 8:25am)

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4.00 Credits

Member Price $140.00

Price will increase by $20 after 10/20

Non-Member Price $205.00

Price will increase by $20 after 10/20

Overview

The effective date of FASB ASC 606, Revenue from Contracts with Customers, is upon us! Do you know which contracts are within the scope of the standard and when revenue should be recognized at a point in time of over time? This course answers those questions by providing a basic understanding of the five-step process for recognizing revenue under FASB ASC 606. Supported by practical examples, this course addresses core principles that all CPAs need to know. Recent updates to this course include the latest guidance from FASB, industryspecific examples taken from the AICPA Audit and Accounting Guide Revenue Recognition, as well as disclosure illustrations.

Objectives

  • Recognize principles of FASB ASC 606.
  • Recognize requirements for identifying a contract under FASB ASC 606.
  • Recognize performance obligations under FASB ASC 606.
  • Recognize requirements for determining a transaction price under FASB ASC 606.
  • Recognize requirements for allocating a transaction price under FASB ASC 606.

Highlights

5-step process for recognizing revenue

Designed For

Accountants in public practice, industry, and academia who need an update on the latest revenue recognition guidance.

Prerequisites

Experience in the application of accounting standards

Preparation

None

Notice

By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy.

Leader(s):

Leader Bios

Michael Brand

Michael Brand, CPA Johnson, Feigley, Newton & Brand LLP / Athens, AL

Michael Brand is a partner of Johnson, Feigley, Newton & Brand LLP in Athens, Alabama. He was formerly a partner with Tucker, Scott, Brand & Wates, LLC. Michael is a graduate of the University of North Alabama and has been in public accounting since graduation.

Michael has been involved in various aspects of public accounting with an emphasis in accounting and auditing services. His experience involves audits of various for profit, not-for-profit and governmental entities. Additionally, he conducts peer reviews. He currently serves on the Alabama Society of CPA's Peer Review Committee and serves on the AICPA's Joint Trial Board, Quality Control Standards Task Force and was a prior member of the AICPA's Peer Review Board.

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Non-Member Price $205.00

Member Price $140.00