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Date / Time / Location

Thursday, April 9, 2020
1:30 PM - 5:00 PM

Webcast

CPE Credits

  • 4.00 CPE Credits in AA

Pricing

  • $169.00 - Member
  • $169.00 - Non Member

Course Developer

Also Available On

Change is definitely coming. For those entities who currently recognize revenue under the guidance of Statement of Position 81-1, Accounting for Performance of Construction-Type and Certain Production-Type Contracts (SOP 81-1), understanding the basics of Topic 606 is not enough. In order to assess the impact of adopting Topic 606, you need a detailed understanding of whether you can recognize revenue over time under Topic 606 or not. Plus, applying the other steps of Topic 606’s five-step revenue recognition model could also result in entities making changes to their current revenue recognition approaches.

Designed For

Accounting and auditing practitioners at all levels desiring to understand the challenges in applying Topic 606 to entities with long-term construction projects.

Benefits

  • Identify the five steps of Topic 606’s new revenue recognition model
  • Determine the criteria that supports recognizing revenue over time under Topic 606
  • Apply Topic 606’s guidance in other areas of interest to entities currently using SOP 81-1
  • Recall best practices and lessons learned from others implementing Topic 606

Highlights

  • Topic 606’s five-step revenue recognition model
  • Determining whether to recognize revenue over time or at a point in time under Topic 606
  • Other unique considerations in applying the five-step model for entities currently using SOP 81-1
  • Lessons learned and best practices from entities already adopting Topic 606

Course Level

Intermediate

Prerequisites

Experience in accounting and auditing.

Advance Preparation

None
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Richard Daisley

Richard Daisley, CPA
Surgent Professional Education

Rich is a CPA and has over 25 years of experience in the accounting and auditing field. He has worked in both the client service setting as well as in internal capacities as a facilitator of accounting and auditing courses. He was an assurance manager with PwC, spending time in both the assurance practice as well as with PwC’s Capital Markets and Accounting Advisory Services group, where he advised clients on the implementation of new accounting pronouncements as well as on issues related to public offerings. Rich also worked in PECO Energy’s Merger and Acquisition group, where he performed financial due diligence that supported PECO’s acquisition activity in the energy sector. He has experience in the manufacturing, health care, energy, and pharmaceutical industries. Prior to joining Surgent, Rich also has more than 10 years of experience as a course developer and facilitator, creating and leading training courses on such topics as revenue recognition, stock based compensation, equity instruments and performing integrated audits under the Sarbanes-Oxley legislation. He also designed and delivered courses on instructor development and facilitation skills to senior PwC internal course instructors. In 2015 he joined Surgent as Director, Accounting & Financial Reporting Content. In this role, he researches and develops the technical content for Surgent’s Accounting and Financial Reporting curriculum.

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