Objective
Morning Session:
Participants will be able to:
- Recognize how the new revenue guidance differs from legacy revenue guidance
- Identify and describe the five steps involved in applying the new revenue recognition model
- Identify and describe selected industry implementation guidance developed by the AICPA
- Identify the increased disclosures required in the ASU for both public and non-public entities
- Identify the transition requirements to be applied upon the effective date of ASU 2014-09, as amended
Afternoon Session:
Participants will be able to:
- Understand the AICPA Code of Professional Conduct, along with recent changes
- Identify ethical threats and safeguards associated with members practicing in public practice, in business, or applicable to other members
- Identify the AICPA Code of Professional Conduct rules that are applicable to all members, including those in public practice and business
- Explain and apply the AICPA Code of Professional Conduct rules applicable to integrity and objectivity, independence, general standards, acts discreditable, commissions and referral fees, advertising, confidential information, and form of organization and name
- Understand the importance of and differences between the AICPA Code of Professional Conduct and Vermont state laws and regulations
Highlights
Morning Session:
- Objectives and scope
- Five-step revenue recognition model
- Selected industry implementation guidance
- Presentation and disclosure
- Transition guidance and business implications
Afternoon Session:
- The conceptual framework
- Confidentiality and conflicts of interest
- Issues impacting attest services, including independence
- Issues impacting non-attest practices and engagements
- Issues impacting CPAs in industry
- Vermont state laws and regulations
Designed For
Morning Session:
All accounting and financial professionals in industry and public practice.
Afternoon Session:
Active licensed CPAs in public practice or industry.
Prerequisite
Morning Session:
Basic knowledge of U.S. GAAP.
Afternoon Session:
Basic knowledge of professional ethics rules and regulations.