While the effective date of Topic 606 is behind us for both public and non-public entities, issues related to the application of the new revenue recognition guidance remain. Whether resulting from SEC comment letters, peer group analysis or from continued internal feedback, many entities are continuing to fine-tune their application of the new guidance beyond the year of implementation.
This course features a live instructor and has been specifically designed for the NJCPA.
DESIGNED FOR
Accounting and auditing practitioners at all levels desiring to understand the FASB’s new revenue recognition guidance.
BENEFITS
- Recall common implementation challenges in the adoption of Topic 606
- Identify common sources of SEC comments and their resolution related to Topic 606 implementation
- Identify best practices to improve the effective and efficient recording of revenue prospectively
- Identify opportunities to change business operation in order to achieve desired outcomes under Topic 606
HIGHLIGHTS
- Common sources of SEC comments related to public adoption of Topic 606
- Disclosure examples for both public and private companies
- Common errors in the application of the Topic 606 guidance
- Operational issues and changes identified in the Topic 606 implementation process and how best to address these
PREREQUISITES
Experience in accounting and auditing.
ADVANCE PREPARATION
None