Conferences Presenting

Maui Conference
November 09, 2018
7:30AM - 1:00PM
Jeff Sailor, CPA
Naples Conference
November 02, 2018
7:30AM - 1:00PM
Jeff Sailor, CPA
San Antonio Conference
September 25, 2018
7:30AM - 1:00PM
Jeff Sailor, CPA
St. Simons Conference
September 27, 2018
7:30AM - 1:00PM
Jeff Sailor, CPA
Tucson Conference
November 16, 2018
7:30AM - 1:00PM
Jeff Sailor, CPA
Live Event
6
Basic
Accounting
There are no prerequisites for this course

Course Description

This course will concentrate on the most critical issues of the year for revenue and lease accounting. Our first topic will be revenue from contract with customers. This standard supersedes most prior industry guidance and replaces it with a framework. You will learn about the elements of the framework and will gain practical insight on implementation. We will also discuss the guidance for various industries published by the American Institute of Certified Public Accountants (AICPA). Our second topic will be the big one looming the horizon: accounting for leases. While this final standard is much less demanding than the exposure drafts, there are many implementation issues that practitioners may have. We will look at the evolution of this standard and examine in detail how to put it in practice. We will also look at potential pitfalls for businesses and ways to minimize them. Above all, this course will keep you awake and engaged with Jeff Sailor's signature videos, designed to entertain and educate.



Course Specifics

Accounting
There are no prerequisites for this course
LE1181001
None


Compliance Information

103220
Qualifies for CA Fraud: No


Learning Objectives

After completing this course, you will be able to:

  • Describe the evolution of the revenue standard
  • Apply the five-point framework for revenue recognition
  • Identify various specialty areas for revenue recognition
  • Apply the revenue framework to basic business models
  • Describe revenue recognition guidance for various specialized industries
  • Describe the history of the leases project
  • Apply the classification criteria to determine whether a lease is a finance or operating lease for a lessee
  • Apply the classification criteria to determine whether a lease is a sales type, direct financing, or operating lease for a lessor
  • Apply the lease standard for a finance lease
  • Apply the lease standard for an operating lease
  • Describe potential pitfalls related to the new standard
  • Describe alternatives to the new standard


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