The FASB finalized the new revenue standard ("Revenue from Contracts with Customers") in 2014 and after a multitude of "tweaks" from the FASB it will roll out for privately held businesses in calendar 2019. While in the discussion leader's opinion the standard will have minimal impact on the amount or timing of revenue, it does create a new "language" of revenue recognition that the practitioner will need to learn to speak. The emphasis of this class will be learning the "5 steps" of revenue recognition and the new terminology associated with each. It will be presented from the perspective of privately-owned sellers of inventory and services in a variety of industries normally served by local practitioners. A must for most practitioners, public and private!