Webcast: Race Toward Implementation: Tackling the Tough Issues in Adopting the New Reven (XSNRRS17)
Tell a Friend About This EventTell a Friend
 

Whether you are ready or not, the effective date of the new revenue recognition standard is right around the corner. The time to execute your implementation plan is now. Are you ready? In this course, in addition to reviewing the five-step revenue recognition model and the recent Updates that impact the standard, we will explore some industry specific topics that have been challenging for entities adopting the new standard. Topics covered include identifying performance obligations, licenses, cu

6/6/2017
When: 06/06/2017
8:00 AM
Where: Webcast
Surgent
NRRS-2017-01-WEBNR-157-01
United States
Presenter: Richard Daisley, CPA


Online registration is closed.
« Go to Upcoming Event List  

AcronymXSNRRS17
CPE8 hours
VendorSurgent
Category
Accounting & Auditing
LevelIntermediate
PrerequisiteExperience in financial accounting and reporting
Adv PrepNone
Yellow Book?No
Designed forPracticing CPAs and their staffs, both in public accounting and business and industry -- controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review
Registration
Member$219
CPA Non-Member$319

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.

Course Description

Whether you are ready or not, the effective date of the new revenue recognition standard is right around the corner. The time to execute your implementation plan is now. Are you ready? In this course, in addition to reviewing the five-step revenue recognition model and the recent Updates that impact the standard, we will explore some industry specific topics that have been challenging for entities adopting the new standard. Topics covered include identifying performance obligations, licenses, customer loyalty programs, other ‘material right’ options, plus other transition issues such as the impact on income taxes and financial systems. As you sprint toward implementation, this course will help make sure that the wind stays at your back.

Objectives

  • Apply the FASB’s new revenue recognition guidance found in ASC Topic 606
  • Describe the FASB's 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
  • Comprehend industry and issue specific guidance related to revenue recognition
  • Identify operational implementation issues related to adopting the new standard

Topics

  • ASC Topic 606, Revenue from Contracts with Customers
  • The FASB's new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance
  • Presentation and disclosure requirements
  • Recent ASUs that provide implementation guidance for the standard
  • Industry specific implementation issues and guidance
  • Identifying performance obligations
  • Accounting for licenses
  • Identifying a ‘material right’ in an option
  • Other operational issues related to implementation