All industries are facing the new revenue recognition standard, Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606). This session is designed to share the basic concepts of this new standard and provide an overview of how they’ll affect your community health center (CHC). This complimentary webinar can save you time and help you gain a basic understanding of the new standard. Once you better understand the foundational elements in this introductory session, you’ll be ready for other BKD CHC revenue recognition webinars that will cover key areas in more depth.
Upon completion of this program, participants will be able to:
- Translate the key definitions and terms of the new accounting standard foundational to CHCs
- Recall the new five-step model that will guide the recognition of revenue for CHCs
- Distinguish between the areas changed and those that remain unchanged by the new standard