Revenue Recognition: Mastering the New FASB Requirements (Cedar Rapids)More Courses
INRR-CR | In Person Training | Intermediate | Scheduled
- Accounting & Auditing
Experience in the application of accounting standards.
CPAs and other business professionals.
The effective date of the new accounting standard for revenue recognition is fast approaching. This course will provide an in-depth understanding of the framework for revenue recognition built around the core principle that is applied in a five-step process. Supported by practical examples, this course will assist you in avoiding revenue recognition traps and provide the latest FASB guidance. In addition, learn how the new guidance impacts certain industries as a result of new criteria for recognizing revenue and changes in disclosure requirements.
- Background, purpose, and main provisions of the new standard.
- Transition guidance.
- 5-step process for recognizing revenue.
- Disclosure requirements.
- Implementation guidance – contracts, tax matters, internal controls, IT.
- Practical examples.
- Avoiding revenue recognition traps.
- How the new guidance impacts certain industries as a result of new criteria for recognizing revenue and changes in disclosure requirements.
No advance preparation necessary.
Jeffrey Lieman, CPA, heads his own consulting firm, Lieman Associates LLC, in Owings Mills, Md. He provides consulting services, contractual assistance services and training to CPAs, their firms and their clients. He is recognized nationally as a lecturer for various accounting, auditing and technology topics and has been quoted in various trade journals. Jeffrey’s previous experience includes serving as the chief financial examiner for the Maryland Insurance Administration and as a director for Ellin & Tucker, Chartered. He trained staff in many areas of accounting, administration and consulting. He also served as a senior manager and national trainer with KPMG in Baltimore, Md. where he developed training materials for staff and instructors. He was elected “Chairman of the Year” by the Maryland Association of CPAs (MACPA) for chairmanship of the Computer Resources Committee.