Revenue Recognition - U.S. GAAP vs. IFRS ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $29.00
Non-Member Price $33.00
Overview
This course provides an overview of the similarities and key differences between the revenue recognition standards issued by the FASB (ASC Topic 606) and the IASB (IFRS 15). While these standards are materially similar as the regulators worked jointly to issue the new converged standards, there are notable differences that are good to understand. However, this course is not intended to provide an exhaustive discussion of these differences.
Highlights
U.S. GAAP vs. IFRS. Revenue recognition. Identifying the contract(s) with a customer. Identifying the performance obligations in the contract. Determining the transaction price. Allocating transaction price to performance obligations. Recognize revenue when (or as) the entity satisfies a performance obligation. Interim disclosures.
Prerequisites
None.
Designed For
CPAs, CFOs, controllers, financial professionals, and auditors.
Objectives
List the key steps in the revenue recognition model. Recognize the applicable U.S. GAAP and IFRS standard with respect to revenue recognition. Identify some of the key differences between ASC Topic 606 and IFRS 15.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Kelen Camehl, Western CPE
Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”.
Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX. Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
Non-Member Price $33.00
Member Price $29.00