Kentucky Society of Certified Public Accountants

Overview

This course provides an overview of the similarities and key differences between the revenue recognition and business combination standards issued by the FASB and IASB. While these standards are similar in many material respects, there are notable differences that are good to understand. However, this course is not intended to provide an exhaustive discussion of these differences.

Prerequisites

None

Objectives

List the key steps in the revenue recognition model
Recognize the applicable U.S. GAAP and IFRS standard with respect to revenue recognition
Identify some of the key differences between ASC Topic 606 and IFRS 15
List the key steps in the acquisition method for business combinations
Recognize the applicable U.S. GAAP and IFRS standard with respect to business combinations
Identify some of the key differences between ASC Topic 805 and IFRS 3

Highlights

Determining the acquisition date
Recognizing and measuring the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree
Acquisition of contingencies
Noncontrolling interests
Recognizing and measuring goodwill or gain from a bargain purchase
Measurement period adjustments
Performance obligations in the Contract
Noncash considerations
Presentation of sales taxes
Impairment reversal of capitalized contract costs
Interim disclosures

Register Now

Materials are generally available 3 days in advance of an event. Once you have downloaded the manual, we are unable to cancel your registration.

Event Code:

SUS0366

2 CPE Credits

Accounting: 2 Credits

Registration

Member Price:

$49

Non-member Price:

$69