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Revenue Recognition - Topic 606 Overview

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Webinar

1.50 Credits

Member Price $59.00

Non-Member Price $79.00

Overview

This session is the beginning in a series on the new revenue recognition standard. The standard outlines five steps for proper compliance. At the surface, these steps seem simplistic. However, there are many considerations that should be considered within each step based on your process and industry. This course is designed to provide an overview of the technical guidance and outline the five steps involved in the revenue recognition model. We also explore some concepts to consider within each step and then evaluate some challenges that specific industry's may have when complying with the standard. Future courses will further delve into each step and provide example and scenarios that should be considered to properly apply the step.

Highlights

  • Revenue Recognition on Contracts with customers

Prerequisites

None

Designed For

Accountants, Finance Professionals, Auditors, Internal Auditors

Objectives

  • Identify the effective dates for the new standard
  • Explore the need for the new standard
  • Explore the new revenue recognition core principles and the five-step revenue model
  • Identify the impact of the new standard on various revenue concepts
  • Explore the impact of the standard on various industries

Preparation

None

Notice

This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by Accounting Continuing Professional Education Network (ACPEN).

Leader(s):

Leader Bios

Lynn Fountain, Lynn A Fountain

Lynn Fountain has over 40 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Lynn has held two Chief Audit Executive (CAE) positions for international companies. In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees. The fraud was formally investigated by the FBI and resulted in five indictments amounting to close to a $13 million fraud loss. Lynn is currently engaged in her own consulting and training practice. She has assisted numerous companies with enterprise risk management frameworks, internal audit processes and financial accounting. She is a highly sought after speaker and has trained internationally. In addition to her personal training, she also serves as a discussion leader for the AICPA for numerous classes. Lynn is the author of three separate technical books released in 2015, The first entitled “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations”, published by the Institute of Internal Auditors Research Foundation and released in April 2015. Her second book “Leading The Internal Audit Function” was released in October 2015 by Taylor & Francis Publications. This book serves as the initial launch for a series of leading practice internal audit and information technology publications. In addition, her third book “Ethics and the Internal Auditor’s Dilemma” was released in December 2016. Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA credentials and CPA certificate.

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Non-Member Price $79.00

Member Price $59.00