Financial Reporting Issues

New Revenue Recognition: ASU 2014-09: Topic 606

Course Overview
This course provides an overview of the five key steps included within the new revenue recognition model. This includes a more thorough analysis of the key factors and issues that should be considered with respect to each of the five steps. This course is the first part in a three part series related to the new revenue recognition standard.

Learning Objectives:

After completing this course, the course participant should be able to:

  • Identify the key steps included within the new revenue recognition model
  • Recognize key requirements as it relates to contracts
  • List factors considered when assessing whether goods or services are separately identifiable
  • Recognize key principles related to allocating transaction price and recognizing revenue

  • Content Partner:

    SmartPros Ltd.

    SmartPros Ltd. is a leader in online and offline continuing education for
    accounting, finance and engineering professionals. With over 2,000 hours of
    content, SmartPros has been providing mandatory continuing education
    products since 1981. SmartPros provides services and content to its
    professional and corporate clients, in a variety of media including Web, CD
    ROM, and video. In the accounting market, SmartPros also has a predominant
    news and information portal which receives 200,000+ visits per month and
    provides services to over 100,000 subscribers. SmartPros' customers include
    50% of the Fortune 500, as well as the major firms and associations in each
    of its professional markets.

    Prerequisites/Advanced Preparation:


    Speaker / Author:

    Stacey Painter, CPA, licensed as a CPA in Wisconsin, is the CFO/COO of North American Filtration, Inc. Stacey was formerly the Director of Loscalzo Institute, a Kaplan company.

    Stacey has over 20 years of experience in both the public and private industry. Before joining Loscalzo Institute, Stacey spent 13 years with Resources Global Professionals, most recently as the Managing Director of Accounting and Finance Services. In this capacity, Stacey worked with the firm’s U.S. offices in developing go to market strategies around accounting initiatives, as well as providing technical training on site to firm clients.

    Prior to joining Resources, Stacey was the Corporate Controller of Square Two Golf, a publicly-traded manufacturer of golf equipment. Here, she was responsible for all aspects of accounting, financial reporting (SEC), planning and budgeting, Human Resources, and Internal Control. At the start of her career, Stacey spent six years at Deloitte & Touche, auditing clients ranging from $10 million to over $1 billion in revenue.

    Stacey received her bachelor’s degree in accounting from Pace University in New York. She is a member of the American Institute of Certified Public Accountants and the New Jersey Society of Certified Public Accountants.

    Software & Hardware Requirements:

    • 56k or Greater Internet Connection
    • Adobe Acrobat® Reader for the .pdf files
    • Adobe® Flash® Player 9 or higher
    • Modern DHTML Compatible Browser
    • Ram: 256 MB minimum
    • Sound card with speakers/headphones
    • Windows or Mac OS


    Price (USD)

    Standard Rate: $24.95


    Course Code : 99PAI05

    Release Date : 01/19/2018
    Expire Date : 01/19/2020
    Credits :
    CPE 1.00
    QAS 1.00

    Length : 50min
    Course Level : Basic
    Course Type : Self-Study
    Passing Grade : 70%
    Format Type : eLearning
    Mobile Compatible
    Field Of Study : Accounting

    Theme : Financial Reporting Issues

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