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Interpreting the New Revenue Recognition Standard: What CPAs Need to Know (CL4INRR15) - KN/PM
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For years, revenue recognition has been the cause of audit failures and the focus of corporate abuse and fraud allegations. This course will provide you with an in-depth understanding of the framework for revenue recognition built around the core principle that is applied in a five step process. Supported by practical examples, this course will help you avoid revenue recognition traps and provide you with latest FASB guidance.

12/28/2015
When: 12/28/2015
1:00 PM until 4:30 PM
Where: LCPA Training Facility
2400 Veterans Memorial Blvd
Suite 500
Kenner, Louisiana 
United States
Presenter: Mark Dauberman


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Early Bird Fees (through 12/9)
Members $159
Non-Members $209
After 12/9, add $50 to your fee.

CPE: 4 hours
Level: Intermediate
Vendor: AICPA
Category: Accounting & Auditing
Prerequisites: Experience in the application of accounting standards
Advanced prep: None

Who should attend: Accountants in public practice and industry who need an update on the latest revenue recognition guidance

The new accounting standard for revenue recognition has finally been released! With the issuance of FASB ASU No. 2014-09, Revenue from Contracts with Customers, FASB has completed a convergence project with the IASB to improve financial reporting by creating common revenue recognition guidance for US GAAP and IFRS.

For years, revenue recognition has been the cause of audit failures and the focus of corporate abuse and fraud allegations. This course will provide you with 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, understanding the changes and new requirements is critical for successful implementation of this new standard. Supported by practical examples, this course will assist you in avoiding revenue recognition traps and provide you with latest FASB guidance.

Objectives

  • Understand new revenue recognition principles.
  • Make appropriate revenue recognition decisions.
  • Identify steps to take today to be prepared for future implementation.

Major Topics

  • Background, purpose, and main provisions of new standard
  • Transition guidance
  • 5-step process for recognizing revenue
  • Disclosure requirements
  • Implementation guidance – contracts, tax matters, internal controls, IT

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Society of Louisiana
Certified Public Accountants

2400 Veterans Memorial Blvd., Suite 500
Kenner, LA 70062-4739

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