JN CPE Courses
JN Productions CPE Courses - PO Box 293024 - Lewisville, TX 75029
Phone (800)479-5636 Fax (443)222-0698
JN Productions is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417 or by visiting the web site: www.nasba.org
Delivery Method: Self-Study. Make your purchase through our secure shopping cart. Once your purchase is completed, you will receive course instructions by email.
Format: Online pdf document. (Printed book available for addl. $20.00 plus s/h.)
Prerequisites: None
Level: Basic
CPE Credit: 4 Hrs. Accounting
Price without printed book: $60.00
Price with printed book: $80.00 plus s/h
Course expiration: You have one year from date of purchase to complete the course.
Course Description:
A record number of companies revised their financials in 2007. The most frequent cause of financial restatements was revenue recognition, which accounted for over 20 percent of all restatements in 2007 and 20 percent during the past five years. This course covers the accounting, reporting, and disclosures associated with revenue recognition for the sale of products or rendering of services. Revenue involves a gross increase in assets or decrease in liabilities. Revenue may be recognized at the time of sale or service, during production, at the completion of production, and at the time of cash receipt. Long-term construction contracts may be accounted for under the percentage-of-completion method or the completed contract method. When a right of return exists, revenue may or may not be recognized, depending on the circumstances. The accounting treatment of warranty and maintenance contracts, contributions, and computer software is also discussed.
Prerequisites: None
Level: Basic
CPE Credit: 4 Hrs. Accounting
Price without printed book: $60.00
Price with printed book: $80.00 plus s/h
Course expiration: You have one year from date of purchase to complete the course.
Course Description:
A record number of companies revised their financials in 2007. The most frequent cause of financial restatements was revenue recognition, which accounted for over 20 percent of all restatements in 2007 and 20 percent during the past five years. This course covers the accounting, reporting, and disclosures associated with revenue recognition for the sale of products or rendering of services. Revenue involves a gross increase in assets or decrease in liabilities. Revenue may be recognized at the time of sale or service, during production, at the completion of production, and at the time of cash receipt. Long-
About the Author
Dr. Jae K. Shim is one of the most prolific accounting and finance experts in the world. He is a professor of accounting and finance at California State University, Long Beach and CEO of Delta Consulting Company, a financial consulting and training firm. Dr. Shim received his M.B.A. and Ph.D. degrees from the University of California at Berkeley (Haas School of Business). Dr. Shim has been a consultant to commercial and nonprofit organizations for over 30 years.
Dr. Shim has over 50 college and professional books to his credit, including 2003 US Master Finance Guide, Barron’s Accounting Handbook, Barron’s Dictionary of Accounting Terms, GAAP 2003, Dictionary of Personal Finance, Investment Sourcebook, Dictionary of Real Estate, Dictionary of Economics, Dictionary of International Investment Terms, Encyclopedic Dictionary of Accounting and Finance, Corporate Controller’s Handbook of Financial Management, The Vest-Pocket CPA, The Vest-Pocket CFO, and the best-selling Vest-Pocket MBA. Professor Shim's books have been published by Prentice-Hall, McGraw-Hill, Barron's, Commercial Clearing House (CCH), Southwestern, John Wiley, American Management Association (Amacom), and the American Institute of CPAs (AICPA).
Dr. Shim has been frequently quoted by such media as the Los Angeles Times, Orange County Register, Business Start-ups, Personal Finance, and Money Radio . Dr. Shim has also published numerous articles in professional and academic journals. He was the recipient of the Credit Research Foundation Award for his article on cash flow forecasting and financial modeling.
Learning Objectives:
After completing this course, you should be able to:
After completing this course, you should be able to:
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Give some examples of accounting irregularities and scandals involving revenue recognition.
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List some reasons for financial restatements.
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Apply the revenue recognition principle.
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Describe accounting issues involved with revenue recognition at point of sale.
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Apply the percentage-
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Apply the completed-
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Describe the installment-
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Explain SFAS 116 requirements for accounting for contributions
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Distinguish between accounting for separately priced and not separately priced warranty and maintenance contracts
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Apply AICPA SOP:97-
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Course #7012b Including Printed Book
$80.00
No extra charge for online exam
Course #7012 BOOK ONLY
$20.00
Order the book only:
-If you do not need CPE credit but are looking for excellent reference material.
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-If you have already ordered the online course or the Mega CPE Special and now want to order the printed book. (No CPE credit is available if you have not ordered the complete course).