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CPE Self-Study

Revenue Recognition: Mastering the New FASB Requirements

  • $149.00-$189.00
    Revenue Recognition: Mastering the New FASB Requirements Backordered Product #: 746322
    AICPA Member: $149.00
    Non-Member: $189.00
  • $99.00-$129.00
    Revenue Recognition: Mastering the New FASB Requirements Online Access Product #: 164242
    AICPA Member: $99.00
    Non-Member: $129.00
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    Product #: GT-INRR

For years, revenue recognition has been the cause of audit failures and the focus of corporate abuse and fraud allegations. This course will provide you with an in-depth understanding of the framework for revenue recognition built around the core principle that is applied in the new five-step process. In addition, understanding the changes and new requirements is critical for successful implementation of this new standard. Supported by practical examples, this course will assist you in avoiding revenue recognition traps and provide you with latest FASB guidance.

This course includes more than a dozen exercises to help you understand how to implement the new standards in real-life scenarios. In addition, you will understand how the new guidance affects certain industries because of new criteria for recognizing revenue and changes in disclosure requirements.

Learning Objectives

This course will prepare you to do the following:

  • Recognize new revenue recognition principles.
  • Identify appropriate revenue recognition decisions
  • Identify steps to take today to be prepared for future implementation.

Key Topics

  • Background, purpose, and main provisions of new standard
  • Transition guidance
  • Five-step process for recognizing revenue
  • Disclosure requirements
  • Implementation guidance – contracts, tax matters, internal controls, IT

Who Will Benefit?

  • Accountants in public practice and industry seeking an understanding of the latest revenue recognition guidance.

System Requirements

About the Authors

Kelen F. Camehl, CPA, MBA

Kelen is a Certified Public Accountant with over 13 years of progressive accounting experience in various industries and currently serves as an accounting policy advisor with ConocoPhillips. Prior to this, he worked in various internal audit and SOX compliance roles within the company. Prior to joining ConocoPhillips, he gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors. Kelen has remained activity involved in CPA exam content development for the past six years and has authored more than a thousand multiple choices questions for different sections of the exam, attending various workshops with the AICPA across the country each year. Additionally, he also is a technical reviewer and content developer for both Wolters Kluwer (CCH) and SmartPros Ltd and an editorial advisor for the AICPA’s Journal of Accountancy. He received his BBA in Accounting from Texas A&M University – Corpus Christi and his MBA in Finance at the University of Texas – San Antonio.

About the Publisher

AICPA

About the AICPA The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 412,000 members in 144 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.

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