Revenue Recognition - Comparison of IFRS vs US GAAP Workshop

FP Consultants International Pte Ltd
Singapore, Singapore, Singapore

Course Format: Classroom | E-learning | Virtual Class | Online | On-site | Blended | Self-paced
Teacher/Instructor: Andrew Olding, FCCA
Fee: S$368

Course Description:

'' 18 Revenue - Applying the Standard to:

1. Review of Important IFRS and US GAAP pronouncements relating to revenue

2. IAS 18 Revenue - Applying the Standard to:

» Sale of goods (five criteria)
» Delivery of services (stage of completion method)
» Determining revenue policies where guidance is lacking

3. US GAAP

c SEC criteria (SAB 104)
» FASB Statements and Interpretations
» FASB Staff Positions (SOP) - In depth review of SOP 97-2
» Emerging Issues Task Force (EITF) update
» Other pronouncements

4. Current Issues:

» Revenue with right of return
» Delivery and substantial performance
» Multiple-element contracts
» Gross versus net reporting (including taxes collected and remitted)
» Deferred payments (discounted cash flow)
» Sale and repurchase agreements
» Bill and hold sales
» Vendor consideration given to a customer
» Reimbursements for out-of-pocket expenses
» Nonrefundable advance payments received
» Effect of fair value measurement
» Accounting for the sale of real estate subject to a buy-sell clause
» Current Status of IASB and FASB Revenue Projects
» Changes to Financial Statement Presentation

...''

Elements of this syllabus are subject to change.

Phone:+65 6509 0292

School Address:

28 Genting Lane, #07-06 Platinum 28 Singapore 349585


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