AAFCPAs provides an overview of new Revenue Recognition standards for Commercial Businesses. Listeners gain an understanding of how the new standard could impact revenue recognition and company policies, and what they should be doing now to prepare for adoption.
This revenue recognition webinar will cover:
- An overview of the revenue recognition standard
- Effective dates and transition guidance
- The key provisions and impact areas by industry
- Practical considerations and challenges to IT systems and processes
- Lessons learned from early adopters
- Guidance on where you should be in the process for a successful 2019 implementation, and action you should take now
We will provide time at the end of this session to allow attendees to Ask Members of our Revenue Recognition Task Force any burning questions.
Revenue Recognition: ASU 2014-09, Revenue from Contracts with Customers (Topic 606), is effective for public business entities and certain not-for-profit entities with annual reporting periods beginning after December 15, 2017. All other entities are required to adopt this by annual reporting periods beginning after December 15, 2018. Entities may now early adopt. This new standard may result in significant changes to the timing and amount of revenue recognized by an entity.
AAFCPAs’ Revenue Recognition Task Force
AAFCPAs’ Revenue Recognition Task Force includes senior level professionals who have been devoted to understanding and interpreting this ASU since the Financial Accounting Standards Board (FASB) announced the project. In this live, interactive educational webinar, we will provide guidance on the implementation of this complex new standard, including recommendations related to interpretation and situational judgments.
Technical Accounting Advisory
Understanding and implementing accounting standards can be complex, time-consuming, and often requires requisite skills and expertise not found on your internal finance team. AAFCPAs provides financial management assistance on these complex technical accounting issues, allowing clients to confidently apply the standard with greater efficiency and ease. Learn more about how AAFCPAs can help you implement the Revenue Recognition Standard.