The FASB has finalized a new revenue recognition standard that was published in 2014 and takes effect as early as 2017 (mandatory in 2018) for privately held companies (mandatory in 2017 for public companies). The standard will change the "language and methodology" of accounting for revenue in practically all industries. This seminar is a broad based review of the new standard intended to start the local practitioner on the road to understanding how the new method will impact their world or their client's world so that they can proactively prepare for the biggest of changes on the income statement. This seminar includes a review of many of the example problems presented in the new standard.