NEBRASKA SOCIETY OF
Certified Public Accountants
SERVING NEBRASKA AND ITS CPAS SINCE 1928
Implementing Topic 606: Tackling the Tough Issues in Adopting the New Revenue Recognition Standard
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Online Registration Form

Date: September 20, 2019
Location: Mahoney State Park, Ashland
Course Time: 8:30 AM to 4:30 PM
Registration Begins: 8:00 AM
Summary
Whether you are ready or not, the effective date of the new revenue recognition standard is right around the corner. The time to execute your implementation plan is now. Are you ready? In this course, in addition to reviewing the five-step revenue recognition model and the recent Updates that impact the standard, we will explore some industry specific topics that have been challenging for entities adopting the new standard. Topics covered include identifying performance obligations, licenses, customer loyalty programs, other "material right" options, plus other transition issues such as the impact on income taxes and financial systems. As you sprint toward implementation, this course will help make sure that the wind stays at your back.
Objectives
* Apply the FASB's new revenue recognition guidance found in ASC Topic 606 * Describe the FASB's new five-step revenue recognition model * Discuss the presentation and disclosure requirements in the new standard * Utilize hands-on examples and illustrations to increase your overall understanding and application of the material * Comprehend industry and issue specific guidance related to revenue recognition * Identify operational implementation issues related to adopting the new standard
Highlights
* ASC Topic 606, Revenue from Contracts with Customers * The FASB's new five-step revenue recognition model, including hands-on examples and illustrations of the new guidance * Presentation and disclosure requirements * Recent ASUs that provide implementation guidance for the standard * Industry specific implementation issues and guidance * Identifying performance obligations * Accounting for licenses * Identifying a "material right" in an option * Other operational issues related to implementation * Feedback from public entity implementation of Topic 606
Who Should Attend
Practicing CPAs and their staffs, both in public accounting and business and industry -- controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review

Course Level Intermediate
Prerequisites Experience in financial accounting and reporting
Course IDNRRS
Discussion LeaderCurtis Quickel, Surgent
CPE Credit8
Additional Information: Parking and lunch are provided on-site.
Fee: $265 - Society Member
$315 - Society Nonmember
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