Kaplan University School of Professional and Continuing Education Kaplan University School of Professional and Continuing Education

Revenue from Contracts with Customers (ASU 2014-09, As Amended) (REV)

NEW! 8-Hour Program (Great industry course) (Available as a workshop)

WHY ATTEND THIS COURSE?

ASU 2014-09, as amended (Topic 606) will impact most U.S. GAAP financial statements either due to measurement and recognition changes from legacy U.S. GAAP and/or additional disclosure requirements compared to prior guidance. This new 8-hour program will review the key provisions of the ASU, identify and apply the new five-step revenue recognition model with detailed examples/case studies for each step, describe the new disclosure requirements, as well as discuss transition and business implications of the new guidance. In addition, industry implementation guidance developed by the AICPA will be discussed. This program was developed and will be presented from the perspective of the practitioner preparing and disclosing the financial information necessary to comply with the new ASU.

DESIGNED FOR...

CPAs and other accounting professionals in industry and public practice.

OBJECTIVE

Participants will be able to:

  • Recognize how the new revenue guidance differs from legacy revenue guidance
  • Identify and describe the five steps involved in applying the new revenue recognition model
  • Identify and describe the industry implementation guidance developed by the AICPA
  • Identify and illustrate the increased disclosures required in the ASU for both public and nonpublic entities
  • Identify the transition requirements to be applied upon the effective date of ASU 2014-09, as amended

MAJOR SUBJECTS

  • Objectives and scope
  • Five-step revenue recognition model
  • Specialized topics
  • Industry implementation guidance
  • Presentation and disclosure
  • Transition guidance and business implications

COURSE ACRONYM: REV

PRESENTATION METHOD: Group-live

LEVEL OF KNOWLEDGE: Intermediate

PREREQUISITES:

  • Basic knowledge of U.S. GAAP

ADVANCE PREPARATION: None

FIELD OF STUDY: Accounting

RECOMMENDED CPE CREDIT: 8 hours


This course is also available as a workshop. The workshop is ideal for audiences/participants who like to interact and get their hands into the detail or who are accustomed to working with teams. It is a combination of a lecture and a workshop, in which participants will be given situations to analyze and conclude on as part of a group. This type of format engages participants, provides for lively discussion points, and reinforces the overall understanding of the new standard.


CPE Sponsor icon

SmartPros®, A Kaplan Company and Loscalzo Institute, A Kaplan Company are 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.