This webinar is one in a series providing cutting edge insight on the impact of the COVID-19 pandemic on accounting and audits. Allison Henry, CPA, CGMA, PICPA’s Vice President of Professional and Technical Standards, will drill-down into how COVID-19 wil
DESIGNED FOR
CPAs in public practice and members in industry
BENEFITS
After attending this presentation you will be able to...
- Identify the basic requirements of ASC 606 such as the scope, effective dates, and the 5 Step model
- Apply the FASB activities relating to ASC 606 and PPP Loans
- Distingu
HIGHLIGHTS
The major topics that will be covered in this class include:
- Thorough discussion of how implementation of ASC 606 and ongoing efforts to comply will be impacted as well as the latest FASB activity
- The impact of COVID-19 disruption on each step of the 5-step process Revenue recognition issues related to variable consideration such as refunds, rebates, and contract modifications
- Discuss potential impairment issues for contract assets
- Sample financial statement presentation and disclosures
COURSE LEVEL
Intermediate
PREREQUISITES
Knowledge of ASC 606, ASC 605, ASC 340 and auditing is helpful
ADVANCE PREPARATION
None