Published: September, 2022
The new standard applies to all companies. We have covered the first step “Identify the Contract” within two previous segments. The second step is to identify the performance obligations. This CPE webinar will focus on “Understanding the new revenue recognition rules” and its five-step model outlined in the standard that organizations must utilize when recognizing revenue.
This CPE course by Lynn Fountain delves into step two of the revenue recognition process relating to performance obligations. Identifying performance obligations requires having a detailed understanding of the contract, deliverables, promises, and contract timing. It involves being able to distinguish between distinct and non-distinct goods and services to identify whether one or more performance obligations exist. This task involves significant judgment and requires specific considerations to be applied to properly identify the performance obligations.
Other aspects relating to performance obligations that will be discussed within this segment are the concepts of measuring progress over a while and identifying how to recognize revenue over some time. This segment also evaluates how to recognize revenue related to intellectual property.
This segment is the first of two segments that evaluates performance obligations. Part two will examine elements surrounding factors that impact performance obligations and examine how to handle up-front fees or stand-alone offers.
This CPE Accounting webinar utilizes many examples from numerous industries to enhance the learning of the various concepts.
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.
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.
Fountain obtained her BSBA from Pittsburg State University and her MBA from
Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials.
Ms. Fountain has become known as an international trainer on topics of Leadership, Internal Audit, Accounting, Finance, Ethics, Business Processes, Bookkeeping, Cybersecurity and Business Issues. She has over 150 training topics that can be tailored to meet your needs.