Approaching Q4 – What is Happening with ASC 606? (AC60)


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Discussion Leader
Erik Charles

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Approaching Q4 – What is Happening with ASC 606? (AC60)

Customer Rating

Field of Study

Accounting

Level

Basic

Credits

1

Qualifies For

CPE

Overview

In 2014, the International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) began converging compliance for sales commissions.

Encapsulated under IFRS 15 and ASC 606, by the time you attend this session, all public companies under IASB and FASB regulations will have had eight months of operations under one of the biggest changes in accounting standards in recent history.

(For the rest of you, the clock is ticking…)

Major Topics

  • History of the convergence of GAAP standards in the US and Europe
  • Overview of ASC 606 and IFRS 15
  • The impact of ASC 606 on recording sales compensation expense
  • The transition to new standards
  • Statements of early adopters
  • Pushback from the SEC
  • Review of technology needs

Learning Objectives

  • Understand how ASC 606 impacts accounting
  • Understand how other companies have approached the new standards
  • Understand the regulatory environment for businesses and how to stay compliant

Designed For

CPAs who need to know what their clients are doing, and how this technology is going to change the accounting world…Now!

Prerequisite

Experience with individual and business clients

Advanced Preparation

None


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Discussion Leader
Erik Charles

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