New GAAP Revenue Recognition Rules

Credit: ATATX: 1.5, CPE: 2 (Live Only)

Financial statements are subject to the most significant changes to accounting for revenue recognition in history. The new standards fundamentally alter the approach to recognizing revenue under U.S. generally accepted accounting principles (“GAAP”). Both accountants and readers of financial statements need to understand the new standards and how they vary from the old approach in order to make sense of financial reporting in the new era.

Learning Objectives:

•    An overview of the new five-step approach to revenue recognition
•    Distinguishing contracts with customers from other arrangements
•    Identifying performance obligations
•    Methods of allocating the purchase price to performance obligations
•    Determining the appropriate time to recognize revenue

Level: Basic
Format: Live webcast
Instructional Method: Group: Internet-based
NASBA Field of Study: Accounting
Program Prerequisites: None
Advance Preparation: None

Guest Speaker: Chuck Borek – The Borek Group, LLC

Level: Basic

Format: Live Webcast

Field of Study: Accounting and Auditing

Program Prerequisites: None

Advanced Preparation: None

Aurora Training Advantage is offering continuing education points designed to recognize dedication to training and excellence in accounting.

Aurora Training Advantage is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

For more information regarding administrative policies such as complaint and refund, and cancellation please contact our offices at 407-542-4317 or training@auroratrainingadvantage.com.