ASU 2014-09, as amended (Topic 606) will impact most U.S. GAAP financial statements either due to measurement and recognition changes from legacy U.S. GAAP and/or additional disclosure requirements compared to prior guidance. This new 8-hour program will review the key provisions of the ASU, identify and apply the new five-step revenue recognition model with detailed examples/case studies for each step, describe the new disclosure requirements, as well as discuss transition and business implications of the new guidance. In addition, industry implementation guidance developed by the AICPA will be discussed. This program was developed and will be presented from the perspective of the practitioner preparing and disclosing the financial information necessary to comply with the new ASU.
DESIGNED FOR
CPAs and other accounting professionals in industry and public practice.
BENEFITS
- Recognize how the new revenue guidance differs from legacy revenue guidance
- Identify and describe the five steps involved in applying the new revenue recognition model and the industry implementation guidance developed by the AICPA
- Identify and illustrate the increased disclosures required in the ASU for both public and non- public entities
- Identify the transition requirements to be applied upon the effective date of ASU 2014-09, as amended
HIGHLIGHTS
- Objectives and scope
- Five-step revenue recognition model
- Specialized topics
- Industry implementation guidance
- Presentation and disclosure
- Transition guidance and business implications
COURSE LEVEL
Intermediate
PREREQUISITES
Basic knowledge of U.S. GAAP.
ADVANCE PREPARATION
None
ADDITIONAL NOTES
NJCPA Goes Green - Registrants Save $20
New for 2018, course materials will be distributed electronically and we're passing the savings along to you. All 8-hour seminar pricing has been reduced by $20. To access, visit your
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