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Accounting Standards Updates
Join Herbein on April 20, 2021 for a key Accounting Standards Update: Leasing and Revenue Recognition.

2020 was a year for the record books – but as we make our way throughout 2021, learn the latest on revenue recognition and leasing standards. How do they impact your business, and what has changed?

Join us as we walk through key updates on both Leasing (ASU) 2016-02, and Revenue Recognition (ASU) 2014-09.

Leasing Update: A walk-through of Accounting Standard Update (ASU) 2016-02, Leases (Topic 842) which will provide insight into aspects of the new lease standard that are particularly relevant to lessees in a non-public entity. We will review how all leases will now be captured on the balance sheet and recorded through the financial statements, as well as the process to determine if a lease exists and how to record it properly under the new standard.

Revenue Recognition Update: An overview of Accounting Standard Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), which will provide insight into the new principles-based standard, including the 5-step process for revenue recognition. We will review what we saw during implementation, where people struggled the most, what we expect going forward, staying on top of the standard, and how COVID-19 impacted customer payments.

After attending this webinar, attendees will:
• Gain an understanding of the aspects of the new ASC 842 standard
• Review ASU 2014-09 and provide insight into the principles-based standard

CPE: 1 Hour of Accounting offered for CPAs licensed to practice in PA and NJ

Apr 20, 2021 02:00 PM in Eastern Time (US and Canada)

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Christopher S. Kunkle, CPA, CITP, CFE
Senior Manager @Herbein + Company, Inc.
Christopher S. Kunkle, CPA, CFE, CITP, is a Senior Manager in Herbein’s Accounting and Auditing Department. His primary areas of expertise are related to software and manufacturing clients, as well as employee benefit plan audits. Chris is responsible for managing audits of all sizes, ranging from large Fortune 500 software developers to small, local manufacturing businesses and service providers. He is heavily involved within the firm's cyber security area niche, being one of two employees with the Certified Information Technology Professional certification. As this area changes regularly for our clients, Chris is instrumental in staying up to date with different security trends. Chris is the Herbein lead in the area of Revenue Recognition for our clients. ASC 606 has impacted many of our clients, and Chris is working both internally to educate employees, as well as externally to make our clients aware of what needs to be done in order to comply with this new standard.
Cory D. Eisenhofer, CPA
Manager @Herbein + Comapny, Inc.
Cory joined Herbein in 2009 upon graduating from Kutztown University and is a Manager in the Accounting and Auditing Department. As a Manager, he is responsible for overseeing multiple firm audit engagements. Cory works with a variety of clients including dairies, cooperatives, nonprofits, and manufacturing entities.