Revenue Recognition Accounting Update 2018 (ASC 606) (San Jose, United States - June 14-15, 2018)

  • ID: 4435213
  • Conference
  • Location: San Jose, United States
  • 2 Days
  • Accounting Conferences and Seminars LLC
  • Conference Dates: June 14-15, 2018
OFF
until Apr 29th 2018
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The new Revenue Recognition Standard has finally been issued. The new guidance standardizes how companies should recognize revenue under U.S. GAAP and IFRS. This conference will go through the new guidance and address the latest developments in key areas, significant changes, scope, disclosure and impacts.

LEARNING OBJECTIVES:

  • Review the latest changes in key areas
  • Understand the big picture concepts from an SEC perspective
  • Begin to assess the effects of the new standard on your company or clients.

*Please note: events may be cancelled due to commercial or organisational reasons. In this case Research and Markets will refund all registration fees which have already been paid. Research and Markets will not refund any charges arising from the participant having to cancel or re-book transportation or accommodation which he or she has arranged.

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Agenda: DAY 1

8:00 8:45 Continental Breakfast and Registration

8:45 10:15 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

10:15 10:30 Break

10:30 12:30 Revenue Recognition: New Standard

  • Lessons learned from the most recent amendments and EITFs
  • Effective date and transition issues
  • Scope of new standard and overviews

12:30 1:30 Lunch

1:30 2:45 Revenue Recognition: New Standard Key Areas and Examples

  • Step 1: identifying the contract
  • Step 2: identifying performance obligations
  • Step 3: determine the transaction price
  • Step 4: allocate the transaction price
  • Step 5: recognizing revenue
  • other provisions and implementation guidance

2:45 2:55 Break

2:55 3:55 Commissions

  • Preparing for commission accounting changes
  • Estimating commission amortization
  • Supporting audit requirements

3:55 4:00 Break

4:00 5:30 Revenue Recognition: Case Studies and Practical Examples

  • Collectibility, Contingent Revenue, Sales to Distributors
  • Performance Obligations Over Time, Elimination of VSOE for Software
  • Residual Approach, Term Licenses, Time Value of Money...

Agenda: DAY 2

8:30 10:00 ASC 606: Connecting the Dots

  • Work through a comprehensive example of a transaction under ASC 606 using a simplified version of a checklist
  • Fully interactive session
  • Tackle the standard step by step

10:00 10:15 Break

10:15 12:00 Case Study Continued...

12:00 1:00 Lunch

1:00 1:55 Impact on Internal Controls

  • ASC 606 Implementation project lifecycle
  • Overview of the new rules from a control perspective
  • Controls to consider
  • External auditor considerations

1:55 2:05 Break

2:05 3:00 Disclosure Issues

  • Reconciliation of contract balances
  • Extensive qualitative disclosures
  • Disaggregation of revenue
  • Interim period disclosures

3:00 4:00 Transition Issues

  • What steps to take now
  • Guidance on adjustments as business models evolve (i.e. cloud computing)
  • Resulting changes to sales/operations/IT/accounting policies
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Chelsea Leadem PwC, Manager
Chad Montgomery PwC, Manager
Donald Thomas KPMG, Director
Susan van Loon KPMG, Manager
Shea Malcolm Ernst & Young, Partner
Matt Svetich Effectus Group, Director
Mike Montgomery Effectus Group, Director
Shauna Watson RGP, Global Managing Director
Caroline Yan Connor Group, Senior Manager
Aleks Zabreyko Connor Group, Partner
Amanda McCarty Grant Thornton, Partner
Jessica Knott Grant Thornton, Partner
Maria Manojlovic PwC, Manager
Aruna Iyer PwC, Manager

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  • 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
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ADDRESS

Dolce Hayes Mansion
200 Edenvale Avenue
San Jose
CA 95136
United States

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