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

Overview

The effective date of FASB ASC 606, Revenue from Contracts with Customers, is here! 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. Updates to this course include the latest guidance from FASB, industry-specific examples taken from the AICPA Audit and Accounting Guide, Revenue Recognition, as well as disclosure illustrations.

Objectives

This course is intended to familiarize the learner with the core principles of revenue recognition from contracts with customers. When you complete this course, you will be able to:

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. https://www.ctcpas.org/events/cpe-policies