Tax Implications of the New Revenue Recognition Guidance WEBCASTMore Courses
TINR4WEB | Webcasts & Webinars | Intermediate | Cancelled
Special NotesPlease note: The webcast format has been cancelled; in-person seating is still available. Register for in person seating HERE.
Here's what other Iowa participants had to say about Rebecca Lee:
- "Great discussion leader."
- "Good examples and explanations of the standards-very helpful in finding information in the standards."
- "Rebecca is very knowledgeable and easily related to."
CPAs applying the changes to GAAP reporting found in ASU 2014-09-Revenue from Contracts with Customers or who have clients implementing the new standard.
The changes to revenue recognition under GAAP imposed by ASU 2014-09, Revenue from Contracts with Customers, normally would not directly impact tax reporting. However, many organizations may wish to attempt to have their tax reporting conform to their now revised financial statement reporting. In addition, changes made to section 451 by the Tax Cuts and Jobs Act now impose an "at least as rapid" test to ensure revenue is not recognized later for tax than book purposes for income tax purposes.
This course looks at how the changes made by ASU 2014-09, either will create a situation where a taxpayer may wish to conform their reporting or where the taxpayer may be required to do so. In cases where a taxpayer wishes to make a change, learn how to determine if the option is available.
- Accounting methods-what is the tax definition?
- Revenue recognition under IRC section 451 for tax purposes.
- Industries where ASU 2014-09 will significantly change revenue recognition.
- IRS rulings on accounting method changes due to ASU 2014-09.
- $25 million accounting method relief enacted by the Tax Cuts and Jobs Act.
Rebecca M. Lee
Rebecca Lee, CPA, CGMA, licensed as a CPA in Alabama and South Carolina, is a Group Practice Leader forLoscalzo Institute, a Kaplan company, and a Principal with Brooke, Freeman & Lee, having offices in Anniston and Birmingham, Alabama. She serves as the assurance, quality control, and compliance principal with responsibilities for the audit practice.
Rebecca has served on numerous AICPA and state society committees, including the AICPA Management ConsultingService Professional Practice Subcommittee, Small Business Consulting Practices Subcommittee, Council of the AICPA, and is a past member of the Institute’s MAS Executive Committee and Personal Financial Planning Executive Committee. She has chaired both the Management Advisory Committee and the Personal Financial Planning Committee of the Alabama Society of CPAs. She currently serves on the South Carolina Association of CPAs’ Peer Review Committee and has chaired the Continuing Professional Education Committee. In 2015, Rebecca was included in South Carolina Association of CPA’s Centennial 100 Influential People in Accounting.
Rebecca is a group practice leader for all staff level audit training programs, as well as other accounting and auditing technical courses. She is a frequent speaker at CPA conferences and has lectured extensively in the area of management advisory services at professional meetings and seminars for state societies and the American Institute of CPAs. With more than 30 years of experience in the audit and accounting field, Rebecca has served as a discussion leader, technical reviewer, and author of courses for audit and accounting technical courses.
Rebecca has served as professor of management accounting in the graduate studies (Master in Public and Private Management) program at Birmingham-Southern College in Birmingham, Alabama.
Rebecca holds a BS degree in accounting from Jacksonville State University, Jacksonville, Alabama, along with a master’s degree in accounting from Birmingham Southern College, Birmingham, Alabama. She is a member of the Alabama Society of CPAs, the South Carolina Association of CPAs, and the AICPA