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Date / Time / Location

Monday, March 18, 2019
8:30 AM - 4:30 PM
Registration: 8:00 AM

NJCPA Education Center425 Eagle Rock Avenue,
Roseland, NJ 07068
973-226-4494

CPE Credits

  • 8.00 CPE Credits in AA

Pricing

  • $279.00 - Member
  • $379.00 - Non Member

AICPA members receive a discount of $30 for this event.

Special PricingLearn more

Course Developer

With the issuance of FASB ASU No. 2014-09, Revenue from Contracts with Customers, FASB has completed a convergence project with the IASB to improve financial reporting by creating common revenue recognition guidance for U.S. GAAP and IFRS.

For years, revenue recognition has been the cause of audit failures and the focus of corporate abuse and fraud allegations. Gain an in-depth understanding of the framework for revenue recognition built around the core principle that is applied in a five-step process. In addition, understanding the changes and new requirements is critical for successful implementation of this new standard. Supported by practical examples, this course will assist you in avoiding revenue recognition traps and provide you with latest FASB guidance. In addition, you will understand how the new guidance impacts certain industries as a result of new criteria for recognizing revenue and changes in disclosure requirements.

Designed For

Accountants in public practice and industry who need an update on the latest revenue recognition guidance.

Benefits

  • Understand new revenue recognition principles
  • Identify appropriate revenue recognition decisions
  • Identify steps to take today to be prepared for future implementation

Highlights

  • Background, purpose and main provisions of new standard
  • Transition guidance
  • 5-step process for recognizing revenue
  • Disclosure requirements
  • Implementation guidance - contracts, tax matters, internal controls and IT

Prerequisites

Experience in the application of accounting standards.

Advance Preparation

None

Additional Notes

  • *AICPA members deduct an additional $30 from applicable price.

Course materials will be distributed electronically. To access, visit your My Events page. Download to your laptop or tablet prior to your seminar.

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Daryl Krause

Daryl G. Krause, CPA
AICPA/Professional Development Institute

Daryl G. Krause, CPA DG Krause LLC / Columbus, Indiana Mr. Krause has CPA Certifications and he practices in: Illinois, Indiana, Kentucky, Michigan, Ohio and Wisconsin as Manager & CEO of his firm, which he founded in 2005. Previously he enjoyed 23 years of diversified responsibilities with Ernst & Young. Industries he served included manufacturing, construction, real estate and financial services. Daryl was the Ohio Valley Area Director of Employee Benefit Plan Services specialty audit practice for 8 years responsible for the technical accuracy and quality of over 300,000 hours of employee benefit plan audit effort. Roles included sign-off partner for approximately one third of the entire area's engagements, independent reviewer on approximately 100 additional plans per year and technical advisor for all work. As Senior Manager in the Entrepreneurial Services group for 3 years he managed a portfolio of corporate audit client relationships. Roles included providing SEC reporting assistance to new public companies, assisting in due diligence on potential acquisitions and helping companies improve their controls and financial reporting processes. He served in E&Y's National Professional Development group as a Senior Manager for 5 years. Roles included designing, developing and delivering core curriculum Audit and Entrepreneurial Services training programs for the entire U.S. practice. Part of the 11 member team that completed the development effort to introduce the Ernst & Young Audit Approach training for Staff through Partner following the Ernst & Whinney and Arthur Young merger, which was deemed a critical success factor for the newly formed Ernst & Young. 08-2010 LH

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