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Accounting Standards: Revenue, Leases, and Inventory

For years, the FASB, along with the International Accounting Standards Board (IASB), attempted to harmonize U.S. GAAP with the International Accounting Standards. While the Boards failed to meet their goal of fully harmonized accounting standards, the final projects resulted in the codification of the new Revenue, Leases, and Inventory standards.

Topics for this webinar include:

  • An examination of the new complex and controversial revenue recognition standards;
  • Specific revenue-related issues, such as the new five-step revenue recognition model, time value implications, impact on the percentage of completion methodology, and client transition;
  • A thorough analysis of the clarifying revenue-related Accounting Standard Updates (ASUs) issued by the FASB to help clarify and ease the revenue recognition implementation requirements. Topics include principal vs. agent consideration (ASU 2016-08), performance obligations, intellectual licensing, royalty based recognition (ASU 2016-10), and other revenue related topics;
  • An examination of the new lease standards. Topics include the elimination of operating leases, mandatory balance sheet recognition, new lease types, exemptions, disclosures, and other lease-related topics;
  • An assessment of the new inventory standards. Topics include the new inventory valuation methodologies and the impact the new standards will have on inventory cost assumptions such as FIFO, LIFO, average costs, and the Retail Inventory Method; and
  • An analysis of why the IRS's Conformity Requirements may have saved LIFO.
     
Designation CPE Hours
CPA 2 Accounting

Course level: Basic
No advanced preparation is required.

 

*New* Spidell's Premier Accounting Webinars

This webinar is part of Spidell's Premier Accounting Webinars series. Click here to order a year of on-demand accounting updates.

 

Webinar features:

  • 2 hours of CPE for one attendee (CPAs only)
  • Access to recording to watch at your convenience
  • Reference manual and PDF of PowerPoint slides

Want to order by phone? Call us at: (714) 776-7850

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Webinar Speaker

Arturo Ramudo, CPA, CISA
Arturo is a former Board of Accountancy investigator, a nationally recognized public speaker, researcher, and seminar leader with almost 30 years of experience in taxation, ethics, standards of practice, and internal quality control. Art owns and operates his own public accountancy firm offering services to both the public and private sectors. He represents CPAs before the California Board of Accountancy's disciplinary committee, provides litigation support, performs peer reviews, and offers advisory services concerning all aspects of ethical practice.


Spidell Publishing, Inc. 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 the final authority on the acceptance of individual course for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. This webinar is designed to meet the requirements for 2 hours of continuing education for the California Board of Accountancy. Basic Level. Field of Study: Accounting. Delivery method: Self-study. For more information regarding administrative policies, such as complaints or refunds, contact Spidell Publishing at (714) 776-7850. There are no prerequisites or advanced preparation required.

Spidell Hours
CPA-Acctng 2

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Price: $99.00

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