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This
Revenue Recognition CPE course will provide an understanding of the accounting, reporting, and
disclosures associated with revenue recognition for the sale of products
or rendering of services.
Revenue recognition guidance comes from scores of different
accounting pronouncements issued by multiple accounting standard setters
and the SEC. This complex literature features in the majority of SEC
enforcement actions related to financial accounting and reporting.
Although this guidance has now been codified as Topic 605, Revenue
Recognition, in the FASB’s new Accounting Standards Codification, it
remains complex, with multiple models for different transactions in
different industries.
In this course you will review the revenue recognition literature in
its new Codification format, consider unique revenue recognition issues,
and look at the implications of premature recognition. In addition, you
will examine FASB’s ongoing project comprehensively reconsidering
revenue recognition.
Objectives:
- Understanding the basic requirements of revenue recognition
- Determining appropriate revenue recognition decisions
- Understanding the implications of faulty revenue recognition
- Increased awareness of revenue recognition developments in the profession
— activities of the FASB, SEC and the IASB
CPE Course Agenda
- The FASB’s Accounting Standards Codification Project and Revenue
Recognition
- Overview of Revenue Recognition Requirements
- Multiple-Element Arrangements, Other than Software
- Multiple-Element Arrangements - Software
- Customer Payments and Incentives
- Principal Agent Considerations
- Construction-Type and Production-Type Contracts
- Other Revenue Recognition Issues
Tuition: $1,095 *
CPE Credit: 8 Recommended Hours
Prerequisite: Knowledge of Basic
Accounting
Preparation: None
Level of Knowledge: Intermediate
Field of Study: Accounting (FOS Code
21)
Delivery Method: Group Live Instructor
Led Course
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