Published: January, 2022
The Financial Accounting Standards Board (FASB) amended the rules for revenue recognition in the Accounting Standards Codification (ASC) to add ASC 606: Revenue from Contracts with Customers.
The new revenue recognition standard, ASC 606, outlines a single, comprehensive model for accounting for revenue from customer contracts. For private companies now tasked with ASC 606 implementation, the model supersedes most legacy guidance and fundamentally changes how entities need to think about revenue recognition. It will change the way you, your company, and your clients, recognize revenue by replacing existing US GAAP with new updates.
In this live Accounting CPE webinar, you will be able to learn an in-depth understanding of new standards. In this CPE course, you will learn the requirements for identifying a contract under FASB ASC 606 and know what is the performance obligations required to be performed under FASB ASC 606. You will be able to learn how to determine and allocate transaction prices under FASB ASC 606. What is the 5-step process to recognize the revenue will be defined and other disclosure requirements will be explained in detail.
Major Topics covered in this online CPE webinar:
Founder Mike Morley
Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.
An entertaining and informative speaker and trainer, Mike is the author of:
“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.
“Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.
“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.