Implementing Topic 606: Tackling the Tough Issues in Adopting the New Revenue Recognition Standard

Course Details

Date

Friday, June 14, 2019

8:00am – 4:00pm (Registration: 7:30am)

Location

Courtyard by Marriott

4260 Hospitality Lane

Casper, WY 82609

307-483-2600

View Map

Field of Study

Accounting & Audit

CPE Credit

8 hours CPE credit

Level of Knowledge

Beginning

Vendor

Surgent & Associates, LLC

Prerequisites

Experience in financial accounting and reporting

Description

In this course, in addition to reviewing the five-step revenue recognition model and the recent Updates
that impact the standard, we will explore some industry specific topics that have been challenging for entities adopting the new standard. Topics covered include identifying performance obligations, licenses, customer loyalty programs, other “material right” options, plus other transition issues such as the impact on income taxes and financial systems. As you sprint toward implementation, this course will help make sure that the wind stays at your back.

Highlights

• ASC Topic 606, Revenue from Contracts with Customers
• The FASB’s new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance
• Presentation and disclosure requirements
• Recent ASUs that provide implementation guidance for the standard
• Industry specific implementation issues and guidance
• Identifying performance obligations
• Accounting for licenses
• Identifying a ‘material right’ in an option
• Other operational issues related to implementation
• Feedback from public entity implementation of Topic 606

Objectives

• Apply the FASB’s new revenue recognition guidance found in ASC Topic 606
• Describe the FASB’s new five-step revenue recognition model
• Discuss the presentation and disclosure requirements in the new standard
• Utilize hands-on examples and illustrations to increase your overall understanding and application of the material
• Comprehend industry and issue specific guidance related to revenue recognition
• Identify operational implementation issues related to adopting the new standard

Designed For

Practicing CPAs and their staffs, both in public accounting and business and industry - controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review.

Course Pricing

WYOCPA Member Fee

Applicable if you are a WYOCPA member in good standing.

$265.00
Non-Member Fee

Applicable if you are not a WYOCPA member.

$315.00
Late Registration Fee (will be added after May 29, 2019) $100.00
Your Price $315.00

View All Professional Development Courses