Revenue Recognition Conference 2017: Current Industry Trends & Strategies in Financial Reporting

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Revenue Recognition Conference 2017: Current Industry Trends & Strategies in Financial Reporting

CPE Credit: 16 Hours

Price: $1,445.00

NASBA Field of Study: Accounting

 

Overview

Now that the New Revenue Recognition Standard is moving full steam ahead toward implementation, it is more important today than ever before that you receive the real-world expert guidance and up-to-date information you need when you need it most.

Today, best practices for how to apply the New Standard have evolved. It is no longer theory. Instead you will be learning proven real-world practices that have been tested by other companies from our unmatchable team of America’s foremost revenue recognition experts from the Big 4, industry leaders and other specialists.

Take full advantage of this unique opportunity to make the transition to the New Revenue Recognition Standard as smooth, painless and effective as possible for you, your company and/or your clients.

 

AGENDA HIGHLIGHTS


•  Understanding ASC 606: Revenue Recognition Under the New Standard

•  SEC Enforcement Issues

•  Managing Implementation & Transition Within Your Organization

•  Applying ASC 606: Revenue Recognition Under the New Standard—Practical Examples

•  Exploring Adoption Methods & Transition Adjustments

•  Revenue Automation for ASC 606

•  Practical Considerations for Disclosure Requirements

•  ASC 606: Beyond the Income Statement

 

LEARNING OBJECTIVE  To provide you with a thorough review of the New Revenue Recognition Standard and its implementation
timelines regarding revenue recognition and how to apply these rules to your company.

PREREQUISITE  None.    ADVANCE PREPARATION  None.    PROGRAM LEVEL  Update.    NASBA FIELD OF STUDY  Accounting.    DELIVERY METHOD  Group-Live.

 

This program is also available via live webcast
Revenue Recognition Conference 2017: Current Industry Trends & Strategies in Financial Reporting Webcast

Agenda

DAY ONE AGENDA*


Deluxe Continental Breakfast & Registration
8:00
 – 8:45 AM

Welcome & Opening Remarks
8:45
 – 9:00 AM

Understanding ASC 606: Revenue Recognition Under the New Standard
9:00
 – 10:30 AM
Implementation date—periods beginning after December 15, 2017 for public companies
Overview and objectives of the Standard, including core principles and scope
Transition alternatives: full retrospective vs. modified retrospective approach
Areas which require more judgment and estimation
New Standard in depth: five key steps of the model
   – Identify the contract with the customer
   – Identify the performance obligations in the contract
   – Determine the transaction price
   – Allocate the transaction price to separate performance obligations
   – Recognize revenue when each performance obligation is satisfied

Expanded qualitative and quantitative disclosure considerations (annual and interim)

Break
10:30
 – 10:45 AM

Understanding ASC 606: Revenue Recognition Under the New Standard (continued) 
10:45 AM – 12:00 PM
Consensus reached by the Transition Resource Group (TRG)
AICPA industry task forces update
Industry-specific examples
Implementation—next steps

Luncheon
12:00
 – 1:00 PM

Understanding ASC 606: Revenue Recognition Under the New Standard (continued) 
1:00 – 2:00 PM

SEC Enforcement Issues
2:00 – 3:30 PM
SEC revenue recognition enforcement issues
Current accounting and disclosure-related SEC investigative priorities
Recent developments
SEC enforcement triggers on revenue recognition issues

Break
3:30
 – 3:45 PM

Managing Implementation & Transition Within Your Organization 
3:45 – 5:00 PM
• Communicate early and often with stakeholders and audit committee
   – Project planning and budgeting will be critical to success

Perform contract reviews
  – Identify and implement system, process and control changes

Presentation and disclosure challenges
Provide training to all areas impacted
Internal controls and SOX considerations
Preparing for your first audit: close auditor coordination and communication is critical

Cocktail Reception
5:00
 – 6:00 PM
 

DAY TWO AGENDA*


Deluxe Continental Breakfast
7:45
 – 8:15 AM

Opening Remarks
8:15
 – 8:30 AM

Applying ASC 606: Revenue Recognition Under the New Standard—Practical Examples
8:30
 – 9:45 AM
This session will take a deep dive into industry-specific considerations and certain implementation challenges. It includes practical examples which apply to many industries. Examples will include collectability, contract modification, license agreement, software-related challenges, volume discount incentive, contingent revenue, contract costs, principal vs. agent, extended payment terms, warranties and more. A leading expert will show you how to analyze a contract under ASC 606, the New Revenue Recognition Standard.

Break
9:45
 – 10:00 AM

Applying ASC 606: Revenue Recognition Under the New Standard—Practical Examples (continued)
10:00
 – 11:15 AM

Exploring Adoption Methods & Transition Adjustments 
11:15 AM
 – 12:30 PM
This session will review the two ASC 606 adoption methods—the Full Retrospective and the Modified Retrospective Methods. Specific example transactions will be reviewed with the accounting adjustments for all periods under both methods, including opening balance sheet adjustments and period income statement and balance sheet adjustments. Financial statement disclosures for the adjustments will also be discussed.

Luncheon
12:30
 – 1:15 PM

Revenue Automation for ASC 606 
1:15
 – 2:15 PM

Practical Considerations for Disclosure Requirements 
2:15 – 3:30 PM
How to deal with the new expanded disclosure requirements: qualitative and quantitative information
  about contracts with customers and significant judgments

Required disclosures under the New Standard
  – Disaggregated revenue
  – Reconciliation of contract balances
  – Performance of obligations
  – Significant judgments
  – Costs to obtain or fulfill a contract
Practical expedients
Developing your new accounting policy disclosures
Transition disclosures
SAB 74 disclosures
Next steps: what your company should be doing now

Break
3:30
 – 3:45 PM

ASC 606: Beyond the Income Statement 
3:45
 – 4:15 PM
The New Revenue Recognition Standard doesn’t just impact the income statement. In this session, the implications beyond the income statement will be discussed, including:
Balance sheet impacts
Tax considerations
Transactions other than contracts with customers
Impacts on costs related to capitalization
Significant financing components and time value of money
Broader business implications

Conference Ends
4:15 PM

 

* PLEASE NOTE: Session topics and times are subject to change based on location and speaker availability. Please call 1-800-544-1114 for specific agenda details.

 

This program is also available via live webcast
Revenue Recognition Conference 2017: Current Industry Trends & Strategies in Financial Reporting Webcast

Speakers

CONFERENCE CO-CHAIRS


Jay Seliber, Assurance Partner, National Accounting Consulting Services Group, PwC, assists clients across the country with their most complex accounting matters, including revenue recognition, mergers and acquisitions, stock compensation, employee benefits, restructurings, impairments and financing transactions.

Chris Smith, Capital Markets and Accounting Advisory Partner, PwC, has over 18 years of experience serving clients of varying sizes, primarily in the technology sector. He specializes in providing advice to companies around capital raising and transaction-related accounting and reporting issues.

 

SPEAKERS INCLUDE

John Benavides, Director of Revenue, Plantronics

Matthew Burns, Director, PwC

Caitlyn M. Campbell, Senior Counsel, SEC

Tim Crudo, Partner, Coblentz Patch Duffy & Bass

Anthony DiVento, Technical Accounting, Google

Trevor Donelan, Enforcement Accountant, SEC

Shelley (Klee) Finn, Senior Principal/Director, Accounting Policies, CSC

Hank Galligan, Assurance Director, BDO

Stuart Glass, Partner, Choate, Hall & Stewart LLP

Matthew Jacques, Director, AlixPartners

Jennifer Kimmel, Senior Manager, BDO

Justin Miller, Group Manager, Corporate Revenue Assurance, Microsoft Corporation

Sean Prince, Accounting Advisory Practice Leader, Dixon Hughes Goodman LLP

Ryan Reid, Director, Technical Accounting and Revenue Recognition, GoDaddy

Joe Talley, Partner, Deloitte & Touche LLP

John Tang, Partner, Jones Day

Aaron Victorino, Victorino Consulting

Jeffrey Werner, Principal, Werner Consulting Group

 

This program is also available via live webcast
Revenue Recognition Conference 2017: Current Industry Trends & Strategies in Financial Reporting Webcast

Workshop

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Forum

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Location

CPE INC. has reserved a block of rooms at preferential rates. To make your hotel reservation,
call CPE INC. or the hotel’s reservation department and ask for the CPE INC. special room rate.

 

Pullman San Francisco Bay
223 Twin Dolphin Drive
Redwood City, CA 94065
(650) 598-9000

 

Hilton McLean Tysons Corner
Worldwide Corporate Flagship Hotel
7920 Jones Branch Drive
McLean, VA 22102
(703) 847-5000

 

This program is also available via live webcast
Revenue Recognition Conference 2017: Current Industry Trends & Strategies in Financial Reporting Webcast