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Monday, April 27, 2020 Webcast

Revenue Recognition: Mastering the New FASB Requirements (E2004193)

8:30 AM - 4:30 PM EDT

Registration: 8:00 AM EDT

webcast

Webcast

8.0 CPE Credits in AA
New Location - VIRTUAL/WEBCAST ONLY. NO IN-PERSON

OVERVIEW

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

COURSE LEVEL

Intermediate

PREREQUISITES

Experience in the application of accounting standards.

ADVANCE PREPARATION

None

INSTRUCTOR

Bruce Shepard

Bruce Shepard, CPA

AICPA

Bruce Shepard, CPA Las Vegas, Nevada Bruce Shepard was most recently an assistant professor of accounting at George Fox University and an adjunct professor of accounting at the University of Oregon, prior to becoming an instructor for the AICPA in 2012. From 2006-2010, Mr. Shepard was the Chief Financial Officer of Las Vegas Gaming, Inc. in Las Vegas, Nevada, where he had full management responsibility for all financial affairs, daily business operations, administration and human resources. From 1985-2006, Mr. Shepard was in charge of the Middle Market Practice for PricewaterhouseCoopers, LLP in Portland, Oregon, where he served as an Assurance Partner from 1989-2006 focusing on providing proactive business advisory services to fast-growing companies. Bruce has many years of trusted business advisor experience around Portland, Oregon where he practiced for 33 years. In addition, Bruce has taught all of the accounting and auditing classes, fraud and forensics, pension auditing, SAARS, COSO, and governmental accounting and auditing classes for the AICPA for the last six years including being the lead instructor on GASB 68. Presently, Bruce is the author of the AICPA course, Audits of Banks and Other Financial Institutions. At PricewaterhouseCoopers, LLP, Mr. Shepard spearheaded over 100 acquisitions and divestitures by leading in the financial structuring of the transactions. He worked with clients to develop strategic plans for short-term and long-term growth. He assisted both start-up companies and beyond start-up companies with attaining their needed growth capital. Mr. Shepard wrote an article, Financing Entrepreneurs, in 1999 for the Oregon Society of Certified Public Accountants. Mr. Shepard was awarded “Beta Alpha Psi Professional of the Year” in 2006 for sustained involvement with the University of Oregon. Bruce has received the 2017 AICPA Outstanding Discussion Leader Award for her practical approach, enthusiasm, and lively seminars.

PRICING

Webcast: Attend this seminar virtually

    $279.00 - Member

    $379.00 - Non Member

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

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

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COURSE DEVELOPER

American Institute of CPAs