• Revenue-Recognition-Accounting-Standards

New Revenue Recognition Accounting Standards


Speaker : David Sanders
Duration : 90 Mins
Level : Intermediate
Date : March 15, Wednesday 2017, 12 pm CST



Revenue Recognition Rules are changing!

Over the next three years companies must change the way they record revenue, starting in 2016, 2017 and 2018 when all entities must comply. Enroll now to gain an understanding of the elements of New Revenue Recognition Rules, so you can prepare for this change by developing a program management team, updating business processes and internal controls, learn dependencies on data, revenue automation updates and IT involvement for the new standard.

During this seminar you will learn how the new revenue recognition standards  will impact consistency, comparability, disclosures and simplify the preparation of financial statements. You will gain an understanding of the new estimates and disclosures rules relating to revenue recognition. In addition, we will evaluate how the new standards will affect operational and performance metrics, contracts, compensation plans, accounting policies, internal controls and tax matters in the company.

This webinar will help you understand the process, various techniques, generally accepted accounting practices, concepts, and major phases in the New Revenue Recognition Standard. This standard will eliminate the transaction and industry specific revenue recognition guidelines under current GAAP and replace them with a principle- based approach for determining revenue recognition.

Start preparing NOW to figure out, how the revenue recognition standards will affect your company, your financials, investors and how we do business. This highly informative seminar will help your understand this major change, 14 years in the making.

1) Necessity of planning

2) How to evaluate your systems strengths and weaknesses

3) How to evaluate the changes from current GAAP and time table

4) How to evaluate the impact on the companies accounts

5) How to outline a plan for anticipating the impact on your internal controls

6) The processes, objectives, components and requirements for effective implementation

7) How to document your processes, objectives and requirements

8) How to identify the 21 action steps and 17 implementation processes required

9) Identify the contract, performance, promise, performance obligations and price

10) Identify when the entity satisfies the performance obligations

11) Help all employees, individuals, supervisors, mangers and executives assess the rule.

12) Learn the Five Main Provisions (Core Principles)

  • Learn how to present ideas in financial terms for greater impact
  • Gain confidences with establishing controls
  • How to document processes, objectives and requirements
  • How to analyze contracts; performance, obligation and price
  • Learn fundamentals of Implementation of the New Rule

Learn Best Practices relating to the New Rule

  • CFO, CEO, Accounting Managers and Supervisors
  • Contracts Department
  • Compliance Department
  • Business Owners, Company Board Members
  • Anyone who wishes enhance their knowledge of the new rule.

David is considered one of the worlds leading experts in accounting, finance, accounts payable, accounts receivable, budgeting, collections, cost accounting, personal finance, personal income taxes, business taxes, business set up, sales & use taxes. internal controls, inventory management, cycle counting, record keeping and vendor, supplier management. He has continuous requests to train employees and to hold public seminars. He has conducted approximately 10,000 training sessions,  including public seminars, on-sites, company training, chamber of commerce’s, colleges, videos, CD’s and webinars worldwide.

David is called upon nationally and internationally for his SOX training abilities and to perform, walk through interim testing for core financial processes such as internal controls, fraud detection, internal controls, financial reporting, revenue, inventory, and expenditure testing.

The author of four acclaimed books and over 25 seminar workbooks and numerous webinars, David has a talent for breaking things down into easy to understand steps that can be implemented immediately. David was an Endorsed Local Provider for the Dave Ramsey Show covering the greater Cincinnati and Northern KY area.

David has a wealth of experience to share that is supported by impeccable financial credentials including over 37 years experience in the financial industry. He holds numerous degrees including Accounting, Business Administration and Finance. His experience has included Accounting Manager, Corporate Controller, CFO, Government Tax Auditor, Business Consultant, and senior partner for various Accounting/ Tax/ Auditing firms nationally.

Leave a Reply

Be the First to Comment!

Notify of