GAAP Update: Ramp Up on New Revenue Recognition Rules (MLA381U)

  Pre Recorded Webinar
  100 minutes

Your financial reports may never look the same again

If you are responsible for preparing financial statements, it’s time to listen up. Thanks to the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), there are whole new set of revenue reporting rules—and your job is about to get more complicated. Companies will be implementing the new standards for revenue recognition (ASC 606) and lease accounting (ASC 842) from today until well into 2020. So it’s imperative that you begin to learn the basics of these new standards—now.

This session, presented by experienced accountant Samuel Monastra, will focus on the current changes in financial reporting—paying particular attention to issues that will affect professionals who prepare financial statements. You will understand how to identify the contract, performance obligation, and transaction price for revenue recognition purposes. Plus, you’ll use a five-step process to apply the new revenue recognition rules.

The objective of this course is to provide an overview of new guidance regarding topics of particular interest to professionals responsible for preparation of the financial statements. Plus, Monastra will briefly discuss the impact of the Tax Cuts & Jobs Act (ASC 740) on your financial reporting. After attending, you will be equipped to begin implementing the new, important accounting standards in your everyday work.

Session Objectives

This compliance-focused presentation will explain:

NASBA Category of Study: Accounting

Level: Basic

Who Should Attend

Watch the Video Snippet Before You Buy!

Samuel A. Monastra, CPA has more than 20 years of experience in public accounting. He is a recognized expert in financial reporting with a particular emphasis on Revenue Recognition, IASB/ FASB Convergence, IFRS, Business Combinations, Asset Impairments, and Financial Statement Disclosures. Samuel h... More info


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