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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.

With this two-hour course, you will:

  • Get a 50-page PDF manual
  • Determine the new complex and controversial revenue recognition standards;
  • Identify 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;
  • Recall 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;
  • Recall 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;
  • Recall 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
  • Identify 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 Series

This self-study is part of Spidell's Premier Accounting Webinars series.
Click here to find out more about these live and on-demand webinars.

Attendees of the live or on-demand Accounting Standards: Revenue, Leases, and Inventory webinar are not eligible for this course.

 

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

 


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 self-study is designed to meet the requirements for 2 hours of continuing education for the California Board of Accountancy. Level: Basic. 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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Availability: In Stock
Price: $60.00

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