New Standards to Recognize Revenue

Business - Jeff Tchir

The issuance of the new standard for income acknowledgment at long last occurred in May 2014 and will supplant the present direction in US GAAP and IFRS for income acknowledgment toward the finish of 2017 for open filers and toward the finish of 2018 for privately owned businesses, with early selection accessible.

The new income rules speak to a change in outlook from tenets based on a standards-based approach and will affect a few features of a business. Organizations should alter strategies and outline new procedures to guarantee consistency.

Join Jeff as he:

  • Walks through the 5 Steps to revenue recognition in a methodological manner using specific examples to drive home the technical application of the new guidance.
  • Dives deep into the 5 Steps of the new standard in a practical manner and specifically outlines the key things that potentially won’t be different vs. slightly different vs. significantly different.
  • Delivers insights that go well beyond recapping the highlights of the new guidance to offer actionable advice in designing and executing on policy changes

 

 

Learning Objectives:

  • Identify the relevant changes in the new revenue recognition guidance for your company
  • Identify the technical aspects of the principal steps of revenue recognition in the new standards
  • Discover the implications of “rules-based” and “principles-based revenue recognition standards

Instructor

Jeff Tchir

Technical Advisor

Jeff is the founder of and technical advisor to RevRec.NET, a consulting group focused on providing…

Training 5 or more people?

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What will you cover?

  •   Introduction 00:02:44

Instructor

Jeff Tchir

Technical Advisor

Jeff is the founder of and technical advisor to RevRec.NET, a consulting group focused on providing…

Training 5 or more people?

Get your team access to WIISE top 2,000 courses anytime, anywhere.

Try WIISE for Business
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