Financial Reporting Issues

Revenue from Contracts with Customers - ASU 2014-09, as Amended (Topic 606)

Course Overview
In this course, you will learn about the revenue guidance issued by the Financial Accounting Standards Board (FASB) - ASU 2014-09 (Topic 606). This guidance impacts nearly every financial statement reporting entity and provides recognition, measurement, presentation and disclosure guidance substantially different from legacy revenue recognition topics.



Learning Objectives:

Upon successful completion of this segment, you should be able to:

  • Recognize the objective of Topic 606 to establish the principles that a reporting entity must apply to report useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers.
  • Identify the five-step revenue approach described in Topic 606.
  • Identify the increased disclosures in the ASU required for public and non-public reporting entities.

Content Partner:

SmartPros Ltd.

SmartPros Ltd. is a leader in online and offline continuing education for
accounting, finance and engineering professionals. With over 2,000 hours of
content, SmartPros has been providing mandatory continuing education
products since 1981. SmartPros provides services and content to its
professional and corporate clients, in a variety of media including Web, CD
ROM, and video. In the accounting market, SmartPros also has a predominant
news and information portal which receives 200,000+ visits per month and
provides services to over 100,000 subscribers. SmartPros' customers include
50% of the Fortune 500, as well as the major firms and associations in each
of its professional markets.


Prerequisites/Advanced Preparation:

None

Speaker / Author:

John M. Fleming, CPA, MBA, is currently the Director, Content Development for SmartPros LTD, a division of Kaplan Professional Education. SmartPros is an international educational and training company specializing in accounting, finance and ethics educational programs. John previously served as President and Director of Accounting and Auditing for LOSCALZO ASSOCIATES, a division of SmartPros for twenty-eight years. John retired as President of Loscalzo Associates on January 1, 2014.

John’s prior practice experience includes audit, tax, consulting, office management, and human resource responsibilities with Deloitte LLP, Richard Eisner & Company LLP, and Ernst & Young LLP. John is a graduate of LaSalle and Drexel Universities with degrees in accounting and finance.

John, a Pennsylvania CPA, served as the 1999/2000 President of the 8,300 member Greater Philadelphia Chapter of the Pennsylvania Institute of Certified Public Accountants (PICPA) and currently serves as a member of the Institute’s Accounting and Auditing Technical Committee. In 2006, the PICPA recognized John as a Joseph E. Sterrett Fellow for his contributions to the accounting profession and in 2007, the Philadelphia Chapter recognized John with their Champion Award for his contributions to the PICPA, Chapter, profession and community. John has also served as the 2002/2003 President of the American Accounting Association’s Mid-Atlantic Region.

John and his wife Marge live in Medford, New Jersey.

Software & Hardware Requirements:

  • 56k or Greater Internet Connection
  • Adobe Acrobat® Reader for the .pdf files
  • Modern DHTML Compatible Browser
  • Ram: 256 MB minimum
  • Windows or Mac OS

Buy

Price (USD)

Standard Rate: $24.95

Details

Course Code : 99FLE23-tx-v3

Release Date : 05/17/2019
Expire Date : 05/17/2021
Credits :
CPE 1.00
QAS 1.00

Length : 50min
Course Level : Basic
Course Type : Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting

Theme : Financial Reporting Issues

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