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

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AICPA Webcasts

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4.00 Credits

Member Price $213

Non-Member Price $261

Overview

The effective date of FASB ASC 606, Revenue from Contracts with Customers is upon us (bold)

Do you know which contracts are within the scope of the standard and when revenue should be recognized?

This webcast addresses the requirements of FASB ASC 606’s five-step process for recognizing revenue:

  1. Identifying a contract with a customer
  2. Determining the performance obligations
  3. Determining a transaction price
  4. Allocating a transaction price
  5. Recognizing revenue

Highlights

  • 5-step process for recognizing revenue

    Prerequisites

    Experience in the application of accounting standards

    Designed For

    Accountants and finance professionals in public practice, industry and academia

    Objectives

    • Apply principles of FASB ASC 606
    • Determine requirements for identifying a contract under FASB ASC 606
    • Apply performance obligations under FASB ASC 606
    • Determine requirements for determining a transaction price under FASB ASC 606
    • Determine requirements for allocating a transaction price under FASB ASC 606
  • 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

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    Non-Member Price $261

    Member Price $213