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Self-Study CPE
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Self study cpe
New Revenue Recognition and Leasing Standards


CPE Processing Fee$20.00
Webinar TranscriptionN/A
Presentation Length Hour(s)1.0 hour
CPE Credits1.0 hour
CE Credits 0.0 hours
Subject Area Accounting
Course LevelBasic
Instructional MethodQAS Self-Study
Advance PreparationNone
Recorded DateJun 25, 2019
Date OfferedJul 01, 2019
Course Description

The effective date for private companies for ASC Topic 606 is January 1, 2019 and ASC Topic 842 is January 1, 2020!  Question: Are you prepared? Designed for CPAs, accountants, auditors, CEOs, CFOs, controllers, financial statement preparers, this course provides a practical overview of the understanding of the FASB’s new revenue recognition and leasing guidance. The course provides a brief overview as well as additional guidance, best practices, presentation, and disclosures.  The new revenue recognition and leasing standards could impact existing contract terms, tax planning strategies, budgets, debt covenant compliance, incentive compensation plans, etc.  In other words, these new standards are much more than an accounting issue, they’re a business issue! As such, it is critical that all accounting and auditing practitioners, in both public accounting and business and industry, begin their review and preparation for implementing Topics 606 and 842 as soon as possible!

Learning Objectives: 

    • Identify features of the FASB’s new revenue and leasing standards and identify ways they affect accounting and business planning.

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    Handout Materials
    Presentation Slides
    Review Questions
    Review Questions
    QUESTION 1: 15:00 minutes
    QUESTION 2: 39:00 minutes
    QUESTION 3: 56:00 minutes
    Frequently Asked Questions
    • CPAacademy self-study courses are online.
    • The self-study format allows you to a) access the material online 24/7 and b) study at your own pace.
    • Per NASBA guidelines, you have one year from date of purchase to complete each program.
    • Complete your final exam at any time and get graded instantly. You can retake the exam at no additional charge (unlimited attempts).
    • Print your own certificate of completion on the spot upon passing the exam.
    • Grading policies: a) courses have a minimum passing score 70% b) test takers will not be provided feedback on failed exams.
    • Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.

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    Salvatore A. Collemi, CPA, is the Managing Member & Founder of Collemi Consulting & Advisory Services, LLC. Mr. Collemi brings more than two decades of experience with U.S. and international financial reporting and professional standards, corporate governance and risk management practices of public accounting firms.

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    NASBA Approved (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

    About Our Presenter

    Collemi Consulting & Advisory Services, LLC provides trusted technical accounting and auditing expertise when you need it the most. Serving a full range of constituents in the public accounting profession, we help identify issues before they become problems.