Live Educational Webinar
Complying with the Revenue Recognition Standard
Price: FREE
Nov. 15, 2018 Thursday
11:00 AM - 12:00 PM (Pacific)
1 Hour
Free Live Webinar
- Free CPE
- Non-sponsored Events mean you never listen to a 3rd party sales pitch – it’s all just great education
- Expert-instructor-led learning with live Q&A
- Based on a great course on Illumeo
Lynn A. Fountain, CPA MBA CGMA CRMA Former Chief Audit Executive
On May 28, 2014, the Financial Accounting Standards Board (FASB) completed its Revenue Recognition project. It issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance establishes principles to report useful information to users of financial statements about the nature, timing, and uncertainty of revenue from contracts with customers.
The standard affects all entities (public, private, and not-for-profit) that have contracts with customers. Exclusions include:
Leases accounted for under FASB Accounting Standards Codification (ASC) 840, Leases; Insurance contracts accounted for under FASB ASC 944, Financial Services—Insurance; Most financial instruments, and guarantees (other than product or service warranties). Transaction and industry specific revenue recognition guidance is eliminated. It is replaced with a principle based approach for determining revenue recognition. The new standard requires significantly more disclosure than previous generally accepted accounting principles (GAAP).
Transaction and industry specific revenue recognition guidance is eliminated. It is replaced with a principle based approach for determining revenue recognition. The new standard requires significantly more disclosure than previous generally accepted accounting principles (GAAP).
This webinar will address the need for the new revenue recognition standard, identify the effective dates of the standard and the impact of the standard, explore the new core principles and five-step revenue model, and consider the impact of the new standard on various industries.
You can preview this course on our site.
The standard affects all entities (public, private, and not-for-profit) that have contracts with customers. Exclusions include:
Leases accounted for under FASB Accounting Standards Codification (ASC) 840, Leases; Insurance contracts accounted for under FASB ASC 944, Financial Services—Insurance; Most financial instruments, and guarantees (other than product or service warranties). Transaction and industry specific revenue recognition guidance is eliminated. It is replaced with a principle based approach for determining revenue recognition. The new standard requires significantly more disclosure than previous generally accepted accounting principles (GAAP).
Transaction and industry specific revenue recognition guidance is eliminated. It is replaced with a principle based approach for determining revenue recognition. The new standard requires significantly more disclosure than previous generally accepted accounting principles (GAAP).
This webinar will address the need for the new revenue recognition standard, identify the effective dates of the standard and the impact of the standard, explore the new core principles and five-step revenue model, and consider the impact of the new standard on various industries.
You can preview this course on our site.
Learning Objectives
After attending this event you will be able to:
Identify the effective dates for the new revenue recognition standard.
Explore the need for the new revenue recognition standard.
Explore the new revenue recognition core principles and the five-step revenue model.
Identify the impact of the new revenue recognition standard on various revenue concepts.
Explore the impact of the revenue recognition standard on various industries.
Speakers
Lynn A. Fountain, CPA MBA CGMA CRMA
Former Chief Audit Executive
Ms. Fountain has over 30 years of experience in the business profession, which includes public and industry accounting and over 20 years within internal and external auditing combined. She is a nationally recognized trainer and speaker and also a published author. She is a subject matter expert and specializes in Internal Audit, Sarbanes-Oxley, Enterprise Risk Management, Fraud, Governance and Compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. She currently performs consulting for companies on internal audit, risk management, internal controls, financial reporting and accounting along with performing training. She has also been instrumental in the establishment of ERM, Sarbanes-Oxley and Governance frameworks.
Moderated by Jennifer Robbins
Illumeo Webinar Manager
Jennifer is a marketing specialist and the webinar manager for Illumeo. She has been a part of more than 300 webinar presentations, supporting our expert presenters and Illumeo users alike. When she’s not moderating webinars, she’s creating and managing marketing content.
