Revenue Recognition - US GAAP vs. IFRS

  • Accountant
  • CPA/ABV
  • CPA/CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • CIPM
  • CBA/MCBA
  • FPAC
  • CFIRS
  • CWS

Published: January, 2022

Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • PwC Views – Importance of Being Financially Bilingual
  • Identifying a Contract with a Customer
  • Probable Definition
  • Shipping and Handling
  • Sales Tax Presentation – Policy Election

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

Recommended For

  • This Online Accounting CPE course is recommended for CPAs, Accountant, Accounting Firm, Accounting Managers, Accounts Director, Bookkeepers & Accountants & Tax Preparers, Chief Accounting Officer, CPA – Midsize firm, Young CPA, Staff of Accounting Firm and other accounting professionals desiring to upgrade their knowledge regarding Difference in US GAAP and IFRS for Revenue Recognition.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

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

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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.

Presenter

About Presenter

Kelen Camehl, CPA (US), MBA

Advisor, Kelen Camehl CPA

Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ 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 has also remained involved in CPA exam content development for nearly 10 years and has 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 over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX.  Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment.  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


Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4

3 Ratings

Excellent

1

Very Good

1

Average

1

Poor

0

Terrible

0

JK

Justin Kargar, CPA (US)

Mar 10th, 2022

n/a

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