Discuss the most difficult aspects of the new revenue recognition standard and review case studies. In addition, review the SSARS standards and focus on SSARSs 21-25.
DESIGNED FOR
All CPAs
BENEFITS
All entities have now adopted the new revenue recognition standard, Topic 606. This seminar will discuss the standard, the challenges entities encountered, and focus on what we’ve learned. The program will incorporate case studies and analysis of some of the most difficult aspects in the standard. In addition, the program will discuss the status of SSARSs standards. This will include SSARS 21-25, the increased use of preparation engagements, understanding the different CPA requirements for preparations, compilations and reviews, the new reports, and contrasts between SSARS and the Attestation Standards. Get up to speed on revenue recognition and Statements of Standards for Accounting and Review Services (SSARS), especially SSARSs 21-25.
HIGHLIGHTS
Specific topics will include:
- Objectives of the revenue recognition standard
- Challenges entities encountered when implementing the standards
- How the five steps of recognition are implemented
- Review SSARS 21 as amended by SSARSs 22-25
- How preparation engagements can be performed efficiently
- New required reporting
- Differences in applicability of SSARS standards and Statements on Standards for Attestation Engagements (SSAEs)
COURSE LEVEL
Basic
PREREQUISITES
None
ADVANCE PREPARATION
None