CPE SESSION 28: SUNDAY, AUGUST 8, 1:00 PM – 4:00 PM
SAB No.104 The SEC's Latest Directive on Revenue Recognition
Description/Objectives:
The workshop will discuss in depth the entire area of Revenue Recognition. It will focus on the latest pronouncement (12/03) by the SEC, SAB No. 104. This SAB clarifies and expands on SAB No. 101, which was issued in 1999. The seminar will examine the SAB in detail and discuss how the subject can be addressed in the classroom.
The workshop will encourage discussion among the participants on the application of the concept and in various case studies. It will focus on different interpretations and the application in various business settings.
A clear understanding of these concepts is important for today’s student. The textbook approach using standards-based emphasis has not been enough. The session will focus on real-life cases and interpretations that will foster critical thinking in the application of authoritative pronouncements to business situations.
Format/Structure:
The workshop will combine lecture, discussion, and case study. It will encourage participant’s comments during the entire session. Focus will be on the application of the concepts of revenue recognition in various case studies. It will focus on today’s business applications. The process of applying the concepts and understanding conflicting interpretations will be emphasized.
Intended Audience:
- Instructors of Intermediate Accounting, Accounting Theory, Auditing, and other coursed related to the accounting concept of Revenue Recognition.
- Practitioners who perform financial statement preparation and audits of financial statements.
Presenter:
Kenn Heaslip, Kean University
* Denotes special requirements or prerequisite
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