Webcast: FASB's New Revenue Recognition Standard ASC 606 (XPRRS17)
Register Tell a Friend About This EventTell a Friend
 

 Export to Your Calendar 12/28/2017
When: 12/28/2017
12 - 4 PM
Where: Via Webcast
CPE
1452593:129.00
United States
Presenter: Douglas J. Van Der Aa, CPA, JD


Online registration is available until: 12/28/2017
« Go to Upcoming Event List  

Acronym XPRRS17
CPE 4 hours
Vendor ACPEN
Category
A&A
Level Intermediate
Prerequisite None
Adv Prep None
Yellow Book? No
Designed for Practitioners and members in industry seeking to gain a better understanding of the new revenue recognition standard and transition rules.
Registration
Member $99
CPA Non-Member $129

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

The new FASB 606 on revenue recognition supersedes nearly all current revenue recognition provisions, including industry-specific guidance and replaces it with a more principles-based approach, which is not a five step process.  This is mark-ably different than the all-events test used for tax purposes.  The new standard is effective January 1, 2018 for public companies and January 1, 2019 for private companies - That's right around the corner! Now is the time to dig in and start getting up to speed on these critically important issues.

Objectives

  • Apply the new financial accounting concepts in the revenue recognition setting
  • Gain a working knowledge of accounting rules as they relate to revenue recognition
  • Discuss planning and potential pitfalls.

Topics

  • Identify the contract(s) with a customer
  • Identify the performance obligations in the contract
  • Determine the transaction price
  • Allocate the transaction price to the performance obligations
  • Recognize revenue as the business satisfies a performance obligation