What You Need to Know About Rev Rec, Leases, and Credit Losses

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

Course Description
Course Qualification
Presenter
FAQ

Course Description

Overview

Why Was a Change Necessary?
Financial Statement Presentation Issues
Effective Dates for the New Standard
Lessee Lease Classification
Subsequent Measurement
Sale and Leaseback Transactions
Transitioning to the New Standard
Effective Dates for the New Standard
Presentation in the Financial Statements
Transitioning to the New Standard

Course Description

In the past few years, the FASB has released several significant accounting standards which have brought about sometimes sweeping changes to U.S. GAAP. Many of these new standards have required significant resources and sometimes lengthy implementation times. This course focuses on the key requirements from what is commonly referred to as the “Big 3”. This includes the new standards related to revenue recognition, leases, and credit losses on financial instruments. Even though some of the Accounting Standards Updates (ASUs) which drove these changes have been out for years, many entities have still yet to adopt all the requirements.

Learning Objectives

List the five steps involved in the new revenue recognition model
Recognize the considerations involved in identifying whether a contract exists
Identify the considerations involved with measuring the transaction price
Recognize the steps involved in allocating the transaction price to performance obligations
Determine whether an arrangement contains a lease

Who Should Attend?

Accountant
Accounting Firm
Accounting Managers
Accounting Practice Owners
Cloud Accountants
CPA - Mid Size Firm
CPA - Small Firm
CPA in Business
Entrepreneurial Accountant
Finance Director
Senior Accountant
Staff of Accounting Firm
VP Accounts
Young CPA

Course Qualification

Webinar Qualifies For

5 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
5 CPE Credit for Certified Management Accountants (CMA)
5 CPE Credit for Chartered Global Management Accountants (CGMA)
5 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
5 CE Credit for Certified Wealth Strategist (CWS)
5 General Credit for Accountant/Bookeeper

Additional details

Course Level :

Basic
Credits :

5
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

Kelen Camehl CPA

www.linkedin.com/in/kelencamehl

Faq

FAQs content

To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
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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

21 Ratings

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Mark Benedict, CPA (US)

Dec 9th, 2021

Overall it was well written. I would like to see more examples. This is very dry and abstract stuff to someone who does not practice in this area. The rail car and container ship examples were fantastic as examples.

Katie Hampton

Dec 29th, 2020

Overall it was a great course. I regretfully found that you can take the exam in Explorer but you cannot submit so I had to take it twice, the second time in Chrome.