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Monday, March 29, 2021 Webcast

Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know (X3-2207126)

1:00 PM - 5:00 PM EDT
webcast

Webcast

4.0 CPE Credits in AA

OVERVIEW

The new accounting standard for revenue recognition was released in 2014 but its effective date is right around the corner. With the issuance of FASB ASU No. 2014- 09, Revenue from Contracts with Customers, FASB has completed a convergence project. For years, revenue recognition has been the cause of audit failures and the focus of corporate abuse and fraud allegations. This course will provide you with 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. Topics Discussed - 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, IT

BENEFITS

When you complete this course you will be able to:

- Recognize new revenue recognition principles.

- Identify appropriate revenue recognition decisions.

- Identify steps to take today to be prepared for future implementation.

HIGHLIGHTS

Topics Discussed

- 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, IT

COURSE LEVEL

Intermediate

PREREQUISITES

Experience in the application of accounting standards

INSTRUCTOR

Renee Rampulla

Renee Rampulla, CPA, CGMA

Renee Rampulla, CPA, CGMA Staten Island, NY

Renee Rampulla, CPA, CGMA, has over twenty years of professional experience. She consults, writes, and lectures on technical accounting and auditing issues. Renee has extensive experience in the auditing of public and privately held entities ranging from the manufacturing and service sectors, to financial services. Previously she was a partner in a regional accounting firm in the northeast in charge of the firm’s accounting and auditing practice and their quality control group.

Renee is the founder of Rampulla Advisory Services, LLC. Her clients include nationally recognized professional organizations, accounting firms, companies, publishers and others. By devoting several years of her career at both regional and Big Four accounting firms Renee accumulated a wealth of technical and practical knowledge. In addition, while working for the American Institute of Certified Public Accountants (AICPA), she performed professional ethics investigations; worked closely with senior technical committees; presented technical guidance before standard setters; and authored and updated several AICPA publications.

For several years, Renee has been an adjunct lecturer at a university in New York City. She has taught numerous undergraduate accounting and auditing courses. Renee holds a BBA in Public Accounting from Bernard M. Baruch College. She is a member of the AICPA, the New York State Society of Certified Public Accountants (NYSSCPA), the New Jersey State Society of Certified Public Accountants (NJSCPA), the Institute of Management Accountants, the American Woman’s Society of Certified Public Accountants, the Association of Certified Fraud Examiners, and the National Conference of Certified Public Accountants Practitioners.

Renee has recently been nominated to the NYSSCPA board; Serves as chair of the NYSSCPA’s Professional Ethics Committee; the 2014- 2015 Chair of the NYSSCPA’s Nominating Committee, past Vice President of the NYSSCPA’s Staten Island Chapter, and a member of the NYSSCPA’s Financial Accounting Standards Committee. She is the past chair of the NJSCPA’s Accounting and Auditing Standards Interest Group and a member of the NJSCPA’s audit committee. She has also served as co-chair of the NJSCPA FASB and International Accounting Standards.

PRICING

$179.00 - Member

$219.00 - Non Member

Register Today


Note: Online pre-registration will close on March 29 at 12:30 PM.

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COURSE DEVELOPER

AICPA/NJCPA