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Revenue Recognition: Mastering the New FASB Requirements
Accounting & Financial Reporting
Webcast

Revenue Recognition: Mastering the New FASB Requirements

This webcast will provide you with an in-depth understanding of the framework for revenue recognition built around the core principle that is applied in a five step process.

Do you have an AICPA or CIMA membership? Log in to apply your member discount.

Format

Webcast

NASBA Field of Study

Accounting

Level

Intermediate

CPE Credits

8

Instructor

Renee Rampulla

Availability

3 months

Product Number

VINRR21010

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 Business & partner 
Product Details

Understand the 5-step process

For years, revenue recognition has been the cause of audit failures and the focus of corporate abuse and fraud allegations. With the issuance of FASB ASU No. 2014-09, Revenue from Contracts with Customers, FASB has completed a convergence project with the IASB to improve financial reporting by creating common revenue recognition guidance for U.S. GAAP and IFRS. The effective date of the new accounting standard for revenue recognition is fast approaching!

Are you ready?

This webcast will provide you with an in depth understanding of the framework for revenue recognition built around the core principle that is applied in a five-step process. This webcast covers the changes and new requirements that are critical for successful implementation of this new standard.

Supported by practical examples, this webcast will assist you in avoiding revenue recognition traps and provide you with latest FASB guidance. In addition, you will understand how the new guidance impacts certain industries as a result of new criteria for recognizing revenue and changes in disclosure requirements.

Who Will Benefit
  • Accountants in public practice & industry who need an update on the new revenue recognition guidance
Key Topics
  • Background, purpose, and main provisions of new standard
  • Transition guidance
  • 5-step process for recognizing revenue
  • Disclosure requirements
  • Implementation guidance – contracts, tax matters, internal controls, IT
Learning Outcomes
  • Recognize new revenue recognition principles
  • Identify appropriate revenue recognition decisions
  • Identify steps to take today to be prepared for future implementation.
More Details
NASBA Field of Study
Accounting
Level
Intermediate
Prerequisites
Experience in the application of accounting standards
Access
This is a digital product. With full paid access the content will be available to you for 3 months after purchase date.
Duration
8 hrs
Pricing
Do you have an AICPA or CIMA membership? Log in to apply your member discount.

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Speakers
Renee Rampulla
CPA
Renee Rampulla CPA CGMA is the managing member and founder of Rampulla Advisory Services, LLC, with over 30 years of experience in accounting, auditing, and professional ethics. She is a national standard-setter serving on the American Institute of Certified Public Accountants (AICPA) Auditing Standards Board. She is a frequently requested and nationally recognized speaker, a five-time recipient of the AICPA’s Outstanding Instructor Award, a recipient of the 2016 New Jersey Society of CPAs “Women of Note” and received the “Samuel A. Dyckman, Excellence in Education Award” from the National Conference of CPA Practitioners. Renee has taught over 1,200 continuing professional education (CPE) courses. She is the author of several accounting and auditing publications and continuing professional education courses for the AICPA, various State Societies, numerous accounting firms, and organizations. Renee writes and lectures on technical accounting, auditing, and professional ethical issues. She has experience in the auditing of public and privately held entities ranging from the manufacturing and service sectors to financial services. Renee 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. By devoting several years of her career to both regional and Big Four accounting firms Renee accumulated a wealth of technical and practical knowledge. In addition, while working for the AICPA, she performed professional ethics investigations; collaborated closely with senior technical committees; presented technical guidance before standard setters; and authored and updated several AICPA publications. Renee has served as a member of the AICPA council and the AICPA’s Ethics Enforcement Committee. She is a past Vice President of Professional Issues for the New York State Society of CPAs (NYCPA), a past member of the NYCPA Executive Committee and former NYCPA Director at Large board member. She has also chaired the NYCPA’s Professional Ethics and Nominating Committees and is the Past President of the NYCPA’s Staten Island Chapter. She has served in several other leadership positions for the NYCPA and continues to serve on many NYCPA committees. Renee has also served in leadership roles with the New Jersey Society of CPA (NJCPA) such as Chair and Vice-chair of the NJCPA Accounting and Auditing Standards Interest Group; Co-Chair of the NJCPA Accounting Standards and IFRS sub-committees and as a member of the NJCPA Audit and Professional Conduct committees. For several years Renee was an adjunct lecturer at Hunter College, a City University of New York City, teaching various undergraduate accounting, auditing, and research courses.
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