Back to Search

Revenue Recognition: Practical Approaches to Implementation

When
April 25
8:00 - 11:30 a.m.

Where
Penn State Great Valley - Main Bldg
Malvern - Map it

CPE Credits
4-A&A

Details

 Pricing

PICPA Member: $139 | Nonmember: $189

CLE Credit Add-On: $25


 More Information

Course No.
753408
Level
Update
Prerequisites
None
Note

Taught by the course author!

This is a four-credit morning seminar (8:00 - 11:30 a.m.; 7:30 a.m. registration)

Description

Get a comprehensive explanation of ASU 2014-09 (Revenue Recognition) and its impact on your company or clients. Become familiar with fundamental principles of the contract-based approach to revenue. Analyze real-life, industry-specific implementation issues using the FASB's five-step approach. Prepare to navigate through transition, disclosure, and presentation challenges.

Highlights

  • What can be learned from companies who have already implemented revenue recognition
  • Analyzing contracts using the five-step model
  • Accounting for contract pricing uncertainties
  • Percent of completion and long-term contracts
  • Multiple deliverables and contract separation
  • Capitalizing contract costs
  • Effective date and transition implications
  • How GAAP for warranties, advanced payments, returns, and variable pricing will change


Speaker(s)

Dr. Ray Thompson, CMA, CFM, CBA

Dr. Ray Thompson is Emeritus Associate Professor of Accounting & Finance at the University of Pittsburgh. He served as department head at the UPJ campus for over 25 years. He was also Associate Director of UPJ’s Entrepreneurial Development Assistance Project, where he was involved in financial consulting and assisting in preparing loan proposals for small business start-ups.

He has taught in graduate and undergraduate business programs in Europe, Africa and the US. He received his B.S. and M.S. degrees in Economics and Systems Dynamics from the University of Bradford in the United Kingdom, his M.B.A. in Accounting from Xavier University of Ohio, and his Doctor of Business Administration from Nova University. Ray is also certified in Financial Management and is a Certified Management Accountant and Certified Business Appraiser. He recently became certified in International Financial Reporting Standards though the Institute of Chartered Accountants in England and Wales.

Ray is a professional educator and writer. He authors and conducts professional development seminars for Fortune 500 and international corporations, multinational financial institutions, State CPA Societies, and CPA firms throughout the US. In addition to these live seminars, he also produces both recorded and written courses for self study. He also provides business valuation services and consults with accounting firms and sole practitioners on a range of accounting issues in the area of valuation. Ray was part of the George & Ray team which offered Accounting & Auditing courses for over 20 years.

Ray is a member of the Institute of Management Accountants and the Institute of Business Appraisers. He is also a faculty associate member of AICPA and PICPA, and is a member of the Financial Reporting Faculty of ICAEW. He lives in Bedford County, PA, and can be reached at (814) 839-0143 by phone or at drrayt@verizon.net.


 


You May Also Like

FASB/SAS Update
Oct. 2 | Malvern
Hear about newly issued and forthcoming accounting pronouncements. Learn practical insights into the new lease standard, ASC 842. Become familiar with new standards involving debt covenants and waivers, not-for-profit reporting, ...
PICPA Ethics Update for CPAs in Business and Industry
Oct. 19 | Malvern
Understand how ethics standards issued by the AICPA and state societies apply to CPAs in business and industry. Examine the new codification of professional ethics. Recognize the profession’s public responsibility. ...
Hot Topics in Accounting and Financial Reporting
Oct. 19 | Malvern
Become familiar with breaking issues affecting the accounting profession. Understand the immediate and medium-term impact of FASB projects involving revenue recognition, leases, and financial instruments, and how they will affect ...