Revenue Recognition: US GAAP vs. IFRS Explained

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Subject Area

Accounting

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Course Description
Course Qualification
Presenter
FAQ

Course Description

In this online CPE course for CPAs and other accounting professionals, all pronouncements are covered at an overview level to provide attendees with insights into key differences in the guidance for all revenue recognition as per US GAAP vs IFRS.
There are two dominant systems of accounting used by corporations around the world. In the U.S., companies use the generally accepted accounting principles (GAAP), while international companies use the International Financial Reporting Standards (IFRS). One of the many significant differences between the two systems is their treatment of revenue recognition. In this Online CPE course, Kelen Camehl will discuss the key differences.
This Online CPE course provides an overview of the similarities and key differences between the revenue recognition standards issued by the FASB (ASC Topic 606) and the IASB (IFRS 15). While these standards are materially similar as the regulators worked jointly to issue the new converged standards, there are notable differences that are good to understand.
This Accounting CPE Course provides an overview of the difference between GAAP and IFRS accounting, reporting, and disclosure requirements related to Revenue Recognition in the case of Contract as prescribed by ASC Topic 606.
This Online Continuing Professional Education Course includes following key topics:
U.S. GAAP vs. IFRS – Overall Differences & Similarities
Revenue Recognition – Key Principles
Interim Disclosures
Impairment Reversal of Capitalized Contract Costs
Intellectual Property Licensing

Learning Objectives

To discuss the area of difference in case of Impairment Reversal of Capitalized Contract Costs
To identify key steps involved in the revenue recognition model
To discuss the area of difference in case of Intellectual Property Licensing
To recognize the applicable U.S. GAAP and IFRS standard concerning revenue recognition
To discuss the area of difference in case of Interim Disclosures

Course Qualification

Webinar Qualifies For

1 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
1 General Credit of Accounting for Accountant/Bookkeeper/Tax Professionals
1 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
1 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
1 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
1 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
1 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
1 PL Credit of Accounting for Chartered Financial Analyst (CFA)
1 CPE Credit of Accounting for Certified Government Financial Manager (CGFM)
1 CPE Credit of Accounting for Internal Audit Practitioner (IAP)
1 CE Credit of Financial accounting concepts for Certified FP&A Professional (FP&A)
1 CPE Credit of Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
1 CPE Credit of Accounting for Qualification in Internal Audit Leadership (QIAL)
1 PL Credit of Accounting for CIPM

Additional details

Course Level :

Basic
Credits :

1
Pre-requisites :

None
Advance Preparation :

None

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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Kelen Camehl, CPA (US), MBA

Kelen is a recognized author and reviewer of CPE courses and has authored over 150 courses (370+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s "Journal of Accountancy". 

Kelen has nearly 20 years of progressive finance and accounting experience. He currently serves as a Principal in Accounting Policy with HP in Doha, Qatar. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.

About Company

HP

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Our vision is to create a world where innovation drives extraordinary contributions to humanity. This vision guides everything we do, how we do it, and why we do it.
Our technology – a product and service portfolio of personal systems, printers, and 3D printing solutions – was created to inspire our vision and we are doing everything in our power across climate action, human rights, and digital equity to make it so.
We believe thoughtful ideas can come from anyone, anywhere, at any time. And all it takes is one to change the world.

Faq

FAQs content

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