Revenue Recognition: Implementing the New Standard

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Revenue Recognition: Implementing the New Standard

CPE Credit: 8 Hours

Price: $595.00

NASBA Field of Study: Accounting

 

Overview

ASC 606—the New Revenue Recognition Standard—will dramatically change the way you, your company or your clients recognize revenue by replacing nearly all US GAAP and IFRS revenue recognition rules and introducing a new core principle and 5-Step Process for recognizing revenue. In this hands-on workshop, you’ll learn how to make the required changes to your:

•  Key financial measures and ratios and IT systems

•  Accounting, sales and contracting processes and internal controls
 

LEARNING OBJECTIVE  To help accountants and other financial professionals understand and implement the changes needed to comply
with the New Revenue Recognition Standard.

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

Agenda

AGENDA HIGHLIGHTS


Times: 8:30 AM - 5:00 PM

Impact of the New Revenue Recognition Standard

Applying the new 5-Step Model for recognizing revenue

Adoption methods: retrospective vs. practical expedient
  – Transition examples and issues

Timeline and action plan

• Costs to obtain contract
  – Principal vs. agent
  – Collectibility
  – Licenses
  – Contract modifications
  – Sell through vs. sell in
  – Significant financing components (time value of money)

• Specific industry illustrations

• Complying with the disclosure requirements

• Qualitative disclosures

• Implementing the change process

• Updates on the latest deliberations of the Joint Transition Resource Group and the Board’s responses
 

*Note: Participants are encouraged to bring examples to learn how the New Standard applies to their situation.

Workshop

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Forum

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Location

Four Seasons Hotel Chicago
120 East Delaware Place
Chicago, IL 60611
(312) 280-8800

 

Tysons Corner Marriott
8028 Leesburg Pike
Tysons Corner, VA 22182
(703) 734-3200

 

The Camby Hotel
2401 East Camelback Road
Phoenix, AZ 85016
(602) 468-0700

 

The St. Regis Houston
1919 Briar Oaks Lane
Houston, TX 77027
(713) 840-7600

 

InterContinental New York Times Square
300 West 44th Street
New York, NY 10036
(212) 803-4500

 

San Mateo Marriott San Francisco Airport
1770 South Amphlett Boulevard
San Mateo, CA 94402
(650) 653-6000