Surgent's Guide to the Topic 606 Revenue Recognition Model for All CPAs (REV4)

Course Details

Date

Thursday, December 26, 2019

3:00am – 6:30am

Field of Study

Accounting

Course Number

SU0666

CPE Credit

4.0 hours CPE credit

Level of Knowledge

Intermediate

Vendor

Surgent McCoy CPE, LLC

Prerequisites

Experience in accounting and auditing

Description

The effective date for Topic 606, Revenue from Contracts with Customers, is now here for all entities. Are you ready? Designed for accounting and auditing practitioners at all levels in both public accounting and business and industry, this course provides a thorough review of the FASB's comprehensive new revenue recognition guidance found in Topic 606. The course will review all aspects of the FASB's new five-step revenue recognition model, including all updates which have been issued to the original ASU. Additionally, the course will review the presentation, and disclosure requirements of the standard. Plenty of examples are used to illustrate the practical application of the ins and outs of the new guidance (including journal entries) to help you better understand and apply the complexities of this completely revamped area of accounting. Revenue recognition changes due to this new guidance could impact wording in contracts, tax planning strategies, budgets, debt covenant compliance, incentive compensation plans, and more. In other words, this comprehensive change in revenue recognition is so much more than simply understanding the resulting debits and credits in the financial statements. As such, it is imperative that all accounting and auditing practitioners at all levels, in both public accounting and business and industry, begin their review and preparation for implementing Topic 606 NOW.

Highlights

  • Topic 606, Revenue from Contracts with Customers, including recently issued ASUs impacting Topic 606
  • The FASB’s new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance
  • Presentation and disclosure requirements

Objectives

  • Explain the FASB’s new revenue recognition guidance found in Topic 606
  • Describe the FASB’s new five-step revenue recognition model
  • Discuss the presentation and disclosure requirements in the new standard
  • Utilize hands-on examples and illustrations to increase your overall understanding and application of the material
  • View feedback from public entity implementation of Topic 606

Designed For

Accounting and auditing practitioners at all levels desiring to understand the FASB's new revenue recognition guidance

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$139.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$169.00
Your Price $169.00

CPE Choice

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This course does not qualify for CPE Choice.

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