While the effective date of Topic 606 has passed, there will always be a need for a comprehensive review of the accounting related to revenue recognition. Whether you are looking to improve your revenue recognition processes, benchmark your financial statement disclosures against your peer group, or stay up to speed on the latest revenue recognition guidance, this course will provide you with the information you need to apply Topic 606 in this current environment.
DESIGNED FOR
Practicing 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
BENEFITS
- 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
- Recall best practices and feedback to enhance the subsequent reporting of revenue
HIGHLIGHTS
- 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 and examples
- Industry-specific implementation issues and guidance
- Best practices, lessons learned and opportunities to improve on the reporting of revenue under Topic 606 going forward
- Accounting considerations related to COVID-19-driven changes to revenue recognition processes
COURSE LEVEL
Intermediate
PREREQUISITES
Experience in financial accounting and reporting
ADVANCE PREPARATION
None
ADDITIONAL NOTES
Course materials are distributed electronically. To access the materials visit
My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.