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

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.