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Live Webinar

100-minute live streaming program
  • October 18
  • 1:00 - 2:40 pm EST

Topic 606 Revenue Recognition Model

October 18

Go beyond understanding the resulting debits and credits in the financial statements.

The new revenue recognition standard brings significant change in how organizations approach recognizing, measuring and disclosing revenue. All transactions with customers must be accessed using the new five step approach. Within the five steps are multiple additional considerations that also need to be addressed depending on the nature of the transaction. This topic will guide you through those five steps and help you apply them to your organization transactions with customers. The material will also explain adoption methods and disclosure requirements.

Learning Objectives

  • You will be able to describe the 5 step approach for recognizing and measuring revenue.
  • You will be able to discuss considerations and information needed to recognize revenue.
  • You will be able to explain how the new revenue recognition standard should be adopted.
  • You will be able to recognize and measure revenue under the new revenue recognition standard.

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Adoption
  • Transactions That Apply
  • When Is the Standard Effective?
  • How the Standard Should Be Adopted
    • Full Retrospective
    • Modified Retrospective
Core Principles and the 5 Steps Approach
  • The Core Principle of the Standard
  • 5 Step Approach for Recognizing Revenue Under the New Standard
  • Considerations and Information Needed
Financial Statement Presentation and Disclosures
  • How Revenue Should Be Presented Under the New Standard
  • Disclosures Required Under the New Standard
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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AIPB 2.0
     
  • This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • CPE 2.0 including Accounting 2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Accounting for 2.0 hours. Prerequisite: basic knowledge of general accounting. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Accounting for 2.0 hours.
     

Who should attend?

This live webinar is designed for accountants, CFOs, controllers, accounts payable professionals, tax managers, presidents, vice presidents, and bookkeepers.

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Mark Robins, CPA

Mark Robins, CPA

Aronson LLC

  • Director, assurance services at Aronson LLC
  • Over 10 years of experience in public accounting
  • Specialize in nonprofit financial reporting and auditing
  • Conducts regular seminars and workshops internally and externally on various topics in accounting and auditing
  • Member of the AICPA
  • B.S. degree in accounting, California State University Northridge
  • Can be contacted at 240-364-2645 or [email protected]
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 406419
Published 2019
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