Skip to main content

Interpreting the FASB Revenue Recognition Standard: What All CPAs Need to Know

-

Add to Calendar

AICPA Webcasts

Online, OK 00000

Get Directions

4.00 Credits

Member Price $139

Non-Member Price $169

Overview

Mastering revenue recognition

It’s crucial to know the key principles of revenue recognition to recognize revenue effectively. You’ll gain an understanding of these key principles by exploring the five-step revenue recognition process.

You’ll learn more about:

  • Identifying a customer contract
  • Determining performance obligations
  • Establishing a transaction price
  • Allocating the transaction price
  • Recognizing revenue

    Fulfilling performance obligations

    Enhancing financial acumen through practical management strategies and real-world examples can significantly improve your organization's ability to excel in revenue recognition practices.

    You'll cover several aspects of performance obligations, including:
  • Identifying distinct goods and services
  • Implications of promised goods
  • Complexities associated with shipping and handling activities

    Highlights

  • Revenue recognition overview
  • Identifying the contract with a customer and performance obligations
  • Transaction price

    Prerequisites

    Experience in application of accounting standard

    Designed For

    Accountants in public practice, industry and academia who need an update on the latest revenue recognition guidance

    Objectives

    • Identify principles and requirements of revenue recognition.
    • Identify requirements for identifying a contract with a customer.
    • Determine performance obligations.
    • Identify requirements for determining and allocating a transaction price.
    • Identify special considerations for implementing FASB ASC 606 and FASB ASC 340-40.
    • Identify financial accounting and reporting requirements.
  • Leader(s):

    Leader Bios

    Renee Rampulla, AICPA

    Renee Rampulla, CPA, CGMA has over twenty years of professional experience. She consults, writes, and lectures on technical accounting and auditing issues. Renee has extensive experience in the auditing of public and privately held entities ranging from the manufacturing and service sectors, to financial services. Previously she was a partner in a regional accounting firm in the northeast in charge of the firm’s accounting and auditing practice and their quality control group. Renee is the founder of Rampulla Advisory Services, LLC. Her clients include nationally recognized professional organizations, accounting firms, companies, publishers and others. By devoting several years of her career at both regional and Big Four accounting firms Renee accumulated a wealth of technical and practical knowledge. In addition, while working for the American Institute of Certified Public Accountants (AICPA), she performed professional ethics investigations; worked closely with senior technical committees; presented technical guidance before standard setters; and authored and updated several AICPA publications. For several years Renee has been an adjunct lecturer at a university in New York City. She has taught numerous undergraduate accounting and auditing courses. Renee enjoys teaching and is an instructor and author of several continuing professional education courses for the AICPA, the New York State Society of Certified Public Accountants’ (NYSSCPA) Foundation for Accounting Education (FAE), and other organizations, covering a variety of FASB and IFRS accounting guidance along with PCAOB and ASB auditing standards. Renee holds a BBA in Public Accounting from Bernard M. Baruch College. She is a member of the AICPA, the NYSSCPA, the New Jersey State Society of Certified Public Accountants (NJSCPA), the Institute of Management Accountants, the American Woman’s Society of Certified Public Accountants, the Association of Certified Fraud Examiners, and the National Conference of Certified Public Accountants Practitioners

    Return to Top

    Non-Member Price $169

    Member Price $139