Restaurant Industry Accounting & Reporting Update Conference 2017 Webinar

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Designed for financial professionals in the restaurant industry

Restaurant Industry Accounting & Reporting Update Conference 2017 Webinar

CPE Credit: 16 Hours

Price: $899.00

NASBA Field of Study: Accounting

$499 per day or take both days for just $899!



Get the most recent financial accounting and reporting updates, changing regulations, industry trends and best practices that affect the restaurant industry.

Restaurant financial executives, Big 4 leaders and industry experts will show you the most effective ways to overcome the challenges you face every day.

This two-day webinar is comprised of two 8-hour sessions. Take both days for just $899!


•  Setting the tone

•  Government affairs affecting the restaurant

•  Revenue recognition update

•  Recent accounting developments

•  Key SEC developments pertaining to the
   restaurant industry

•  Cybersecurity from the front lines


•  Accounting for leases: implementation and
   transition to the New Standard

•  Audit committee issues roundtable

•  Consumer disruptions and megatrends

•  Federal tax legislative roundup: looking
   forward to 2018

•  Robotics and digital platforms for the
   restaurant industry


LEARNING OBJECTIVE  This specialized webinar will apprise you of the most recent financial accounting and reporting updates,
changing regulations, industry trends and best practices that affect the restaurant industry.

DELIVERY METHOD  Group Internet-Based.



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

Setting the Tone
9:00 – 9:30 AM

Government Affairs Affecting the Restaurant Industry 
9:30 – 11:00 AM
• Joint employer: state and federal legislation; NLRB
• Persuader Rule
• Overtime Rule
• Discriminatory Predictive Scheduling and Minimum Wage Proposals
• State Preemption Legislation
• ADA Litigation Reform
• Prohibitions on Non-Compete Agreements

11:00 – 11:15 AM

Revenue Recognition Update
11:15 AM – 12:30 PM
• Background and overview

Five Step Model for recognizing revenue
• SAB 74 considerations—transparent disclosures about the effect of implementation
Transition Resource Group consensus and industry task forces update
Transition considerations
   – Effective date and adoption methods
   – Transition examples
Implementation issues
   – Project management and internal dynamics
   – Issue analysis
   – Transactions and deals
   – Technology and systems
   – Communications

12:30 – 1:30 PM

Recent Accounting Developments
1:30 – 2:30 PM
• FASB current active agenda
• Recently completed projects and related implementation standards
• Recently issued exposure drafts and other formal projects
• Accounting updates with upcoming effective dates
• Disclosure effectiveness
• Simplification projects
• EITF update

2:30 – 2:45 PM

Key SEC Developments Pertaining to the Restaurant Industry
2:45 – 4:00 PM
• SEC hot button issues
• Initiatives in the Division of Corporation Finance
• Overview of key SEC Initiatives and recent rulemaking activities, including Disclosure Effectiveness
• SEC comment letter trends
• Non-GAAP financial measures (continued monitoring of use of non-GAAP measures)
• Loss contingencies
• Working with SEC staff
   – Recent developments
   – Filing review process
   – Best practices for resolving comments and outstanding issues

Cybersecurity from the Front Lines
4:00 – 5:00 PM
• State of the Union for cybersecurity
• Potential impacts and implications for the board
• A framework for cybersecurity oversight

Cocktail Reception
5:00 – 6:00 PM



Opening Remarks
8:30 – 8:45 AM

Accounting for Leases: Implementation & Transition to the New Standard
8:45  – 10:15 AM
• Overview, effective date and timeline of the New Standard
• Scope of and identifying a lease
• Separating lease and non-lease components
• Determining and allocating the consideration in the contract
• Key concepts (lease term, lease payments and discount rates, and other items)
• Issues to be discussed include:
   – Lease classification
   – Lessee and lessor accounting and presentation
   – Summary of lessee’s potential financial statement impact
   – Lessor accounting—operating leases, sales-type leases, direct financing leases
   – Recognition and measurement
   – Ongoing requirements: reassessment requirements—lessee; modification
   – Sale and leaseback transactions
   – Sublease arrangements
   – Related-party leases
   – Built-to-suit transactions
   – Disclosures
• Transition methods and options

10:15 – 10:30 AM

Audit Committee Issues Roundtable Discussion
10:30 – 11:30 AM

Consumer Disruptions & Megatrends
11:30 AM – 12:30 PM
In an age of disruption, from Millennial consumers to the rapidly changing digital environment, KPMG examines the megatrends that are driving changes in the restaurant industry.

12:30 – 1:15 PM

Federal Tax Legislative Roundup: Looking Forward to 2018
1:15 – 3:00 PM
This session will review recent federal legislative changes in the tax field and discuss possible legislative tax agenda items for 2018.
• Highlight recently enacted federal tax laws
• Identify possible federal tax priority items for the new Congress and Administration
• Examine the influences of policy, politics, and personalities on federal tax policy

3:00 – 3:15 PM

Robotics & Digital Platforms for the Restaurant Industry
3:15 – 4:15 PM
A discussion of automation’s impact on the “back of house” and loyalty programs and the effect robotics and digital platforms can have on the organization.

Closing Comments
4:15 – 4:30 PM

Conference Ends
4:30 PM




Paul Fultz, Managing Partner, KPMG LLP, is an Audit Partner with over 20 years of experience with the firm. He is the Managing Partner of the Louisville office and the National Restaurant Segment Leader for the firm. He serves as a technical resource to KPMG’s restaurant and food service clients providing guidance on industry trends and restaurant and food service-specific accounting and auditing issues, including SEC industry hot buttons. Previously, Mr. Fultz was a Partner and Manager for Yum! Brands. He has also worked for clients such as CBIZ, hhgregg, O’Charley’s, PharMerica, ResCare, Ruby Tuesday and Texas Roadhouse.


Daniel Amat, Partner, KPMG LLP

Peter Bassi, Board Member, BJ’s Restaurants

Shelley Cole, Senior Manager, Audit, KPMG LLP

Jennifer Gray, Director, Federal Legislative and Regulatory Services, KPMG LLP

Dean Heyl, Senior Director, State Government Relations, Public Policy and Tax Counsel, International Franchise Association

Eugene Kublanov, Managing Director, KPMG LLP

David Lee, Partner, K&L Gates

Greg Moore, Audit Committee Chair, Texas Roadhouse

Dan Shaughnessy, Principal, KPMG LLP

Matthew Sutton, Vice President of Government Affairs and Public Policy, California Restaurant Association

Liz Williams, Chief Financial Officer, Taco Bell


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