Revenue Recognition CPE Update: Evolving Issues - 2024 Online Seminar - Latest Developments in Key Areas, Significant Changes, Scope, Disclosure and Impacts

DUBLIN, Jan. 19, 2024 /PRNewswire/ -- The "Revenue Recognition CPE Update: Evolving Issues 2024" conference has been added to ResearchAndMarkets.com's offering.

Get your annual revenue recognition update here! ASC 606 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

Agenda:

Agenda: DAY 1

8:45 - 11:00 - Revenue Recognition: Past Issues and Emerging Trends

• Where people are getting stuck within the five-step model
• Price concessions
• Modifying contracts
• Customer options and material rights
• Performance obligations - software industry considerations
• Significant financing component
• Principal-versus-agent considerations
• Contract costs
• Onerous performance obligations/contracts

11:00 - 11:15 - Break

11:15 - 12:45 - SEC & Revenue Recognition Perspectives

• SEC Comment Letter Trends and Themes
• Accounting for usage-based fees
• Acquired Contract Assets/Liabilities from Business Combinations

12:45 - 1:30 - Lunch Break

1:30 - 3:00 - Cases and Examples

• Areas of significant complexity and judgment
• Top causes of restatements
• Operational and business model changes
• Interaction with other guidance

3:00 - 3:15 - Break

3:15 - 4:30 - Impact on Internal Controls

• Changes in Information and Related Data - Quality Needs
• ASC 606 Internal Control Considerations
• On-going ASC 606 Controls
• Management Review Controls
• Information Used in Controls (IUC)
• IT-General Control Considerations
• COVID-19 Impact on Internal Controls
• SOX Optimization & Modernization

Agenda: DAY 2

8:45 - 10:05 - Revenue Recognition: Fraud Issues

• Context
• Drivers of Rev Rec fraud
• Rev Rec schemes and how they were perpetrated and what the ultimate outcomes were
• How to best manage and or mitigate the risk of rev rec fraud

10:05 - 10:10 - Break

10:10 - 11:30 - Commissions: Deeper Dive

• Adoption of ASC 340-40, Other Assets and Deferred Costs - Contracts With Customers
• Provide foundational understanding of identifying costs to be capitalized under ASC 340-40
• Provide foundational understanding of how to amortize incremental contract costs
• Provide an overview of disclosure requirements

11:30 - 11:35 - Break

11:35 - 12:55 - Disclosures

• Recent Trends
• Disaggregated revenue
• Reconciliation of contract balances
• Qualification of performance obligations
• Disclosure of significant assumptions
• Quantification of costs to complete a contract

12:55 - 1:30 - Lunch Break

1:30 - 4:20 - ASC 606: Interactive discussion on a series of scenarios

• Selected practice areas: Revenue Customer, Contract Duration, Enforceable Rights, Performance Obligations, Replacement Right, License Modifications, Measure of Progress, Contract Cost
• Group will use polling to work through each question
• Moderators from Connor Group will explain their recommended answers and explanations

Speakers

• Brian Allen Effectus Group, Partner and National office Head
• Abby Cohen Deloitte, Senior Manager
• Keith Ma Effectus Group, Director of Technical Accounting
• Disha Buch Deloitte, Senior Manager - National Office Accounting and Reporting Services
• Miki Liu Deloitte, Manager - National Office Accounting and Reporting Services
• Brian Aubuchon Effectus Group, Director
• Aleks Zabreyko Connor Group, Senior Technical Partner
• Jesse Fillerup Connor Group, Partner - Technical Accounting
• Michael Kearney PwC, Director
• Jeff Griffiths PwC, Director
• Guido van Drunen, Retired KPMG PartnerGlobal Compliance Management and Response
• Dominic Mills Grant Thornton, Partner - Technology Industry
• Julie Dockins Grant Thornton, Audit Manager
• Hailey Oh Deloitte, Senior Manager
• Heather Bradshaw RSM, Senior Manager
• Chantal Adam Salesforce, VP Corporate Accounting
• Brandon Campbell PwC, Director
• Tai Fung Starbucks, Director - Assistant Controller
• Angela Liu Stealth, Strategy, and Product

For more information about this conference visit https://www.researchandmarkets.com/r/vi06q5

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