Date: October 24th , 2025

Time: 2pm ET | 1pm CT | 12pm MT | 11am PT

Duration: 120 Minutes

Description:

In today’s evolving financial environment, precise revenue recognition is vital for transparency and compliance. The Financial Accounting Standards Board (FASB) introduced a unified, principle-based model under the Accounting Standards Codification (ASC) that standardizes how revenue is recognized across most industries. Understanding these requirements is critical for ensuring your organization’s financial statements accurately reflect earnings activities.

This CPE course provides a comprehensive guide to applying the new revenue recognition framework established by ASC for Revenue from Contracts with Customers. Through a detailed exploration of the five-step model—identifying contracts, defining performance obligations, determining transaction prices, allocating revenue, and recognizing revenue—you’ll gain the knowledge needed to apply the updated standards confidently. The course also addresses the enhanced disclosure requirements that support greater comparability and transparency in financial reporting.

Topics Covered:

• Core principles of revenue recognition under the ASC framework (excluding construction revenue, covered separately)
• Contract identification and performance obligation guidance
• Determination and allocation of transaction prices
• Application of the five-step revenue recognition model
• Disclosure requirements under ASC

Credits and Other information:

• Recommended CPE credit – 2.0
• Recommended field of study – Taxes
• Session Prerequisites and preparation: None
• Session learning level: Basic
• Location: Virtual/Online
• Delivery method: Group Internet Based
• Attendance Requirement:  Yes
• Session Duration: 2.0 Minutes

Who Will Benefit:

• CPA
• Enrolled Agents (EAs)
• Tax Professionals
• Attorneys
• Other Tax Preparers
• Finance professionals
• Financial planners

About Our Speaker

Michel Morley , CPA (US)

Founder, Self-Employed

Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation. An entertaining and informative speaker and trainer, Mike is the author of: “IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.“Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO’s & CFO’s personally responsible for the accuracy of their company’s financial statements.“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.