Interpreting the FASB Recognition Standard: What All CPAs Need to Know (4 hours - morning) - Webcast
Overview
FASB ASC 606, Revenue from Contracts with Customers, is effective! Do you know which contracts are within the scope of the standard and when revenue should be recognized? This course answers those questions by providing a basic understanding of the five-step process for recognizing revenue under FASB ASC 606. Supported by practical examples, this course addresses core principles that all CPAs need to know. Updates to this course include the latest guidance from FASB, industry-specific examples taken from the AICPA Audit and Accounting Guide Revenue Recognition disclosure illustrations.
OSCPA has partnered with the Washington Society of CPAs for this event.
Highlights
5-step process for recognizing revenue
Prerequisites
Experience in the application of accounting standards
Designed For
Accountants in public practice, industry, and academia who need an update on the latest revenue recognition guidance
Objectives
This course is intended to familiarize the learner with the core principles of revenue recognition from contracts with customers. When you complete this course, you will be able to:
- Recognize principles of FASB ASC 606.
- Recognize requirements for identifying a contract under FASB ASC 606.
- Recognize performance obligations under FASB ASC 606.
- Recognize requirements for determining a transaction price under FASB ASC 606.
- Recognize requirements for allocating a transaction price under FASB ASC 606.
Leader(s):
Leader Bios
Renee Rampulla, AICPA
Renee Rampulla, CPA, CGMA, has over twenty years of professional experience. She consults, writes, and lectures on technical accounting and auditing issues. Renee has extensive experience in the auditing of public and privately held entities ranging from the manufacturing and service sectors, to financial services. Previously she was a partner in a regional accounting firm in the northeast in charge of the firm's accounting and auditing practice and their quality control group.
Renee is the founder of Rampulla Advisory Services, LLC. Her clients include nationally recognized professional organizations, accounting firms, companies, publishers and others. By devoting several years of her career at both regional and Big Four accounting firms Renee accumulated a wealth of technical and practical knowledge. In addition, while working for the American Institute of Certified Public Accountants (AICPA), she performed professional ethics investigations; worked closely with senior technical committees; presented technical guidance before standard setters; and authored and updated several AICPA publications.
For several years, Renee has been an adjunct lecturer at a university in New York City. She has taught numerous undergraduate accounting and auditing courses. Renee holds a BBA in Public Accounting from Bernard M. Baruch College. She is a member of the AICPA, the New York State Society of Certified Public Accountants (NYSSCPA), the New Jersey State Society of Certified Public Accountants (NJSCPA), the Institute of Management Accountants, the American Woman's Society of Certified Public Accountants, the Association of Certified Fraud Examiners, and the National Conference of Certified Public Accountants Practitioners.
Renee has recently been nominated to the NYSSCPA board; Serves as chair of the NYSSCPA's Professional Ethics Committee; the 2014- 2015 Chair of the NYSSCPA's Nominating Committee, past Vice President of the NYSSCPA's Staten Island Chapter, and a member of the NYSSCPA's Financial Accounting Standards Committee. She is the past chair of the NJSCPA's Accounting and Auditing Standards Interest Group and a member of the NJSCPA's audit committee. She has also served as co-chair of the NJSCPA FASB and International Accounting Standards. Renee is a recipient of the Association's Outstanding Facilitator Award.
(5/25/21)
Non-Member Price $235.00
Member Price $185.00