DUBLIN, Dec. 24, 2019 /PRNewswire/ -- The "Revenue Recognition Accounting Update 2020 (ASC 606)" conference has been added to ResearchAndMarkets.com's offering.
The new Revenue Recognition Standard made a significant impact on the way most companies recognize revenues. Best practices continue to evolve and there are a number of areas where companies are still searching for answers.
This conference assumes you are already familiar with the five-step model. It will address the latest developments in key areas, significant changes, scope, disclosure and impacts. There will be plenty of examples and a detailed case study.
Learning Objectives
- Review the latest changes in key areas
- Understand the big picture concepts from an SEC perspective
- See where your counterparts are getting stuck
Who Should Attend?
CFOs (and their staff), Controllers, VPs of Finance, Financial Managers, Internal Auditors, Tax Accountants, Treasury Staff, Accountants in Industry, Internal Control/SOX personnel, Consultants, Public Accountants, Educators.
Agenda
Agenda: DAY 1
8:00 - 8:45
- Continental Breakfast and Registration
8:45 - 10:45
- Revenue Recognition: Past Issues and Emerging Trends
- Where people are getting stuck within the new model
- Implementation observations
- Beware These Hot Spots - Comment Letters
- Survey results
10:45 - 11:00 - Break
11:00 - 12:30
- Revenue Recognition: Key Areas and Illustrative Examples
- Collectibility
- Contract Modifications
- Identifying Performance Obligations
- Contingent Revenue
- Costs to Obtain a Contract
- Significant Financing Component
- Performance Obligations Over Time
- Elimination of VSOE Requirement for Software Transactions
12:30 - 1:30 - Lunch
1:30 - 2:45
- Industry Panel Discussion
- Hear from your counterparts in the industry about their experiences in working through ASC 606
- Unseen obstacles
- Communication Issues
- Internal Control Issues
2:45 - 2:55 - Break
2:55 - 4:00
- Commissions
- Incremental Cost Capitalization
- Accelerator Commission Payments
- Multiple Costs for One Contract
- Contract Modifications
- Clawback Provisions
- Fringe Benefits
- Amortization Period
- Common Questions
4:00 - 4:05 - Break
4:05 - 5:05
- Disclosure Issues
- Adoption and Post-Adoption
- Disaggregated Revenue
- Reconciliation of Contract Balances
- Qualification of Performance Obligations
- Disclosure of Significant Assumptions
- Quantification of Costs to Complete a Contract
- Examples
- Next Steps
Agenda: DAY 2
8:45 - 10:45
- ASC 606: Interactive discussion on a series of scenarios
- Selected practice areas
- Group will use polling to work through each question
- Moderators from Connor Group will explain their recommended answers and explanations
10:45 - 11:00 - Break
11:00 - 12:00
- Round Robin session on operational issues
12:00 - 1:00 - Lunch
1:00 - 2:15
- Revenue Recognition: Case Studies and Practical Examples
- Material Right - Renewal Option
- Sales to Distributor
- Contract Does Not Meet the Criteria of Apply the New Model
- Good or Service is Distinct in the Context of the Contract
- Estimating the Transaction Price
- Sales-or-usage Based Fees
- When Does Control Transfer?
- Recognizing Revenue
2:15 - 2:25 - Break
2:25 - 3:35
- Tax Impact of the New Standard
- Tax Principle for revenue recognition
- Examples
- Other considerations
- Next steps
3:35 - 4:30
- Implementation Observations
- Making revenue recognition manageable for those on the front lines
- Engaging in a dialogue: narrowing the gap between sales and accounting
- When and how to communicate issues of emerging importance
Speakers
- Chad Montgomery KPMG
- Miranda Chook RGP
- Matt Svetich Effectus Group
- David Sandry Grant Thornton
- PJ Theisen Deloitte
- Josh Kinsell Deloitte
- Aleks Zabreyko Connor Group
- Caroline Yan Connor Group
- James Bell KPMG
- Narayanan Balakrishnan Ernst & Young
- Angela Liu GAAPSaavy
For more information about this conference visit https://www.researchandmarkets.com/r/w6p9n7
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
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Research and Markets
Laura Wood, Senior Manager
[email protected]
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SOURCE Research and Markets
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