Revenue Recognition (ASC Topic 606): Case Study Scenarios for identifying the contract

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Revenue Recognition (ASC Topic 606): Case Study Scenarios for identifying the contract

Learning Objectives

To explore scenarios for identifying the Contract.
To analyze scenarios for contract existence.
To examine scenarios for contract modifications.
To discuss scenarios for unpriced change orders.
To identify scenarios for modifications applying the cumulate catch-up method.
To explore scenarios for contract combinations.

Course Description

This CPE course is dedicated to Step One of the new revenue recognition model “Identify the Contract”.

Previous CPE courses have outlined each of the individual five steps of the model and provided case examples. We have also developed two broad case study courses that cover scenario examples for each of the five steps. To focus directly on aspects within each step, we are creating individual courses with multiple case scenarios that apply to the individual given steps.

This CPE Accounting webinar applies to Step One – Identify the Contract. It includes the many considerations that must be in place for a contract to be in place and enforceable. We also review case scenarios that cover contract modification and practices, contraction combinations, and other elements included in Step one.

After taking this CPE course by Lynn Fountain you should be able to effectively apply your understanding of Step One of the revenue recognition model to specific scenarios within your business. Each learning objective listed utilizes multiple examples from various industries to help interpret and practice the concept.

Webinar Qualifies For

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

About Instructor

Lynn Fountain, CRMA, CPA (US), CGMA, MBA

Owner, Lynn Fountain Consulting and Training

Lynn Fountain has over 39 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing and risk management. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Lynn has held two Chief Audit Executive (CAE) positions for international companies. In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees. The fraud was formally investigation by the FBI and resulted in 5 indictments estimating a $13M fraud loss.

Ms. Fountain is currently engaged in her own consulting and training practice. She has successfully executed on several consulting assignments spanning areas of accounting, risk, ERM and internal audit. She is a highly sought-after trainer and international speaker and has produced hundreds of courses delivered through seminars, conferences and on-demand training. She is the author of three separate technical books.

Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations”.
Leading the Internal Audit Function
Ethics and the Internal Auditor’s Dilemma

Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials.

Additional Information

Duration

1.5 Hours

Course Level

Basic

Instructional Method

Group Internet Based

Pre-requisites

None

Advance Preparation

None

FAQ’s

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NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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.

Ratings and Review

4.4

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Patricia Anderson, CPA (US)

Excellent and comprehensive examples

Marianne Coonley, CPA (US)

very informative and practical

Max Davis,, CPA (US)

Good Stuff

Jia Yu, CPA (US)

pretty good

1.5 Credits

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Subject Area

Accounting

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Revenue Recognition (ASC Topic 606): Case Study Scenarios for identifying the contract

Course Details

Learning Objectives

Course Description

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Lynn Fountain, CRMA, CPA (US), CGMA, MBA

Other Details

Additional Information

1.5 Hours

Basic

Group Internet Based

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

4.4

Patricia Anderson, CPA (US)

Marianne Coonley, CPA (US)

Max Davis,, CPA (US)

Jia Yu, CPA (US)

Subject Area

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