Top Accounting and Auditing Issues for 2021 CPE Course: Module 1 (Currently Unavailable)
Author: Kelen Camehl, Lynn Fountain
| CPE Credit: |
4 hours for CPAs |
This four CPE hour course reviews top accounting issues: Leases and Credit Losses: Post-implementation and Lessons Learned and Complying with the Updated Revenue Recognition Standard – Topic 606. The course provides an overview of post-implementation issues and lessons learned from the new lease standard (ASC 842) and the new credit losses standard (ASC 326). The course also outlines the five step revenue recognition model and relevant application for proper compliance with Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606).
This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.
Publication Date: August 2020
Designed For
CPAs, Auditors, Accountants, Finance Professionals, Executive management/ Board members and Audit Committee members, and Legal and Compliance professionals
Topics Covered
- New Lease Standard
- Credit Losses Standards
- Post-Implementation Challenges & Lessons Learned
- Revenue recognition standard effective dates
- Core principles
- The five-step revenue recognition model
- Standard on various revenue concepts and industries
Learning Objectives
- Identify the overall requirements related to the new lease standard
- Recognize key lessons learned related to implementation of the new lease standard
- Identify key requirements and guidance related to the new credit losses standard
- Recognize best practices for implementation of the new credit losses standard
- Identify impacts to both standards as a result of the COVID-19 pandemic
- Identify effective dates for the updated revenue recognition standard
- Explain the need for the updated revenue recognition standard
- Recognize and apply the updated revenue recognition core principles and the five-step revenue recognition model
- Identify the impact of the updated revenue recognition standard on various revenue concepts
- Describe the impact of the revenue recognition standard on various industries
- Identify acceptable methods for measuring progress
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (4 hours)
Program Prerequisites
None
Advance Preparation
None
