CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Revenue Recognition Principles

Icon_Self-Study
QAS Self-Study
Icon_Level
Overview
Credits
CPE Credits
4 Credits: Accounting

Course Description

This course provides an overview of the new revenue recognition standards prescribed by the Financial Accounting Standards Board (FASB) issued in May 2014. The new standards are effective for public business entities for annual reporting periods after December 1, 2017, including interim periods within that reporting period. For calendar year public filers, these entities will need to implement the new standards starting in 2018.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Recognize how the new revenue recognition standards were developed between the FASB and IASB

Chapter 2

  • Identify the five steps involved in the new revenue recognition model
  • Recognize the steps involved in allocating the transaction price to performance obligations
  • Identify the considerations involved with measuring the transaction price
  • Recognize the considerations involved in identifying whether a contract exists

Chapter 3

  • Identify presentation issues with respect to contract assets and contract liabilities
  • Understand the overall disclosure requirements and transition methods related to the new standards

Chapter 4

  • Recognize key amendments from ASUs issued subsequent to the initial release of the new revenue recognition standards

Course Specifics

Course ID
1213559
Revision Date
December 21, 2021
Number of Pages
87
Prerequisites

There are no prerequisites.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

Course Instructor

Kelen Camehl Headshot
Kelen Camehl, CPA, MBA

Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics.  His courses are available for purchase from many online CPE providers including the AICPA.  Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam.  He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”. Kelen has over 15 years of progressive finance and accounting …

Kelen Camehl, CPA, MBA Read More »

Revenue Recognition Principles

Expert Instructors
CPE CREDITS
4 Credits: Accounting

$116.00$136.00

Clear
Icon_Self-Study
QAS Self-Study
Icon_Level
Overview
Credits
CPE Credits
4 Credits: Accounting

Course Description

This course provides an overview of the new revenue recognition standards prescribed by the Financial Accounting Standards Board (FASB) issued in May 2014. The new standards are effective for public business entities for annual reporting periods after December 1, 2017, including interim periods within that reporting period. For calendar year public filers, these entities will need to implement the new standards starting in 2018.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Recognize how the new revenue recognition standards were developed between the FASB and IASB

Chapter 2

  • Identify the five steps involved in the new revenue recognition model
  • Recognize the steps involved in allocating the transaction price to performance obligations
  • Identify the considerations involved with measuring the transaction price
  • Recognize the considerations involved in identifying whether a contract exists

Chapter 3

  • Identify presentation issues with respect to contract assets and contract liabilities
  • Understand the overall disclosure requirements and transition methods related to the new standards

Chapter 4

  • Recognize key amendments from ASUs issued subsequent to the initial release of the new revenue recognition standards

Course Specifics

Course ID
1213559
Revision Date
December 21, 2021
Number of Pages
87
Prerequisites

There are no prerequisites.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

Course Instructor

Kelen Camehl Headshot
Kelen Camehl, CPA, MBA

Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics.  His courses are available for purchase from many online CPE providers including the AICPA.  Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam.  He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”. Kelen has over 15 years of progressive finance and accounting …

Kelen Camehl, CPA, MBA Read More »

Revenue Recognition Principles

Expert Instructors
CPE CREDITS
4 Credits: Accounting

$116.00$136.00

Clear