Wolters Kluwer's Revenue Recognition: What CPAs Need to Know

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May 20, 2021

Instructor: Pat Patterson

Special BKR Fee: $75.00

Begin Time: 
9:00 AM Pacific Time
10:00 AM Mountain Time
11:00 AM Central Time
12:00 PM Eastern Time

CPE Credit: 
2 hours for CPAs

Learn about the new professional standards from the FASB known as “Revenue Recognition” from the FASB’s “Big 3 Project,” which represents significant changes in authoritative professional standards concerning revenue recognition, its 5 step core principles, and related revenue recognition topics. These topics represent “changes to changes” in revenue recognition. The subjects and core principles are explained, discussed, and illustrated for examples. Further, the Corona Virus Pandemic (COVID-19) has impacted revenue recognition and its effective dates for the accounting profession.

Who Should Attend:
Professionals in public practice, industry, government, and education who deal with nonpublic entities and need a course in how to handle the major “FASB Big 3” issue of Revenue Recognition (ASU 2014-09)

Topics Covered:

-For Revenue Recognition (ASU 2014-09), the 5 step core principles for revenue recognition will be examined.
-Issues in revenue recognition that involve principals' vs agents, timing, and disclosures.
-Matters on reporting, disclosure, and measurements will be discussed.
-How small entities and large entities may be affected by the new standard.
-Revenue recognition's effect on taxation, loan covenants, and other related issues are detailed.
-FASB Big 3 Project.
-Transition to the New Standard.
-ASU 2014-09 and several related ASUs.
-How will the New Standard change current GAAP?
-FASB/IASB Joint Transition Resource Group for Revenue Recognition (TRG).
-Update on Implementing the New Revenue Standard.
-What to look for.
-Revision of the effective dates.

For more information and to register, click here.