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Friday, November 26, 2021 Live Webcast

Revenue Recognition Implementation and COVID-19 Challenges (X2-20827)

2:30 PM - 4:30 PM EST
webcast

Vendor Platform

2.0 CPE Credits in AA

OVERVIEW

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
  • Determine how to account for risk areas including assessing collectability, accounting for contract modification, changes in transaction prices versus price concessions, variable consideration, sales returns, financing component, contract costs and impairment and onerous contacts
  • Identify additional disclosures required based on COVID-19 considerations.

HIGHLIGHTS

The major topics that will be covered in this class include:

  • Implementation of the 5 step model outlined in ASC 606 as well as the latest FASB activity 
  • Revenue recognition issues related to the impact of collectability, variable consideration such as refunds, rebates, and contract modifications, significant financing, and onerous contracts.  
  • The impact of COVID-19 disruption on each step of the 5-step process
  • Sample financial statement presentation and disclosures

COURSE LEVEL

Basic

PREREQUISITES

Knowledge of ASC 606, ASC 605, ASC 340 and auditing is helpful

ADVANCE PREPARATION

None

INSTRUCTOR

Allison Henry

Allison M. Henry, CPA, CGMA

PRICING

$69.00 - Member

$89.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

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COURSE DEVELOPER

CPA Crossings