DUBLIN--(BUSINESS WIRE)--The "Revenue Recognition Accounting Update 2019 (ASC 606)" conference has been added to ResearchAndMarkets.com's offering.
The new Revenue Recognition Standard made a significant impact on the way most companies recognize revenues. Best practices continue to evolve. 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.
Who Should Attend:
- 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
Agenda:
Agenda: DAY 1
8:00 - 8:45 - Continental Breakfast and Registration
8:45 - 10:45 - Revenue Recognition: Past Issues and Emerging Trends
- Where people are getting stuck within the new model
- Implementation observations
- Beware These Hot Spots - Comment Letters
- Survey results
10:45 - 11:00 - Break
11:00 - 12:30 - Revenue Recognition: Key Areas and Illustrative Examples
- Collectibility
- Contract Modifications
- Identifying Performance Obligations
- Contingent Revenue
- Costs to Obtain a Contract
- Significant Financing Component
- Performance Obligations Over Time
- Elimination of VSOE Requirement for Software Transactions
12:30 - 1:30 - Lunch
1:30 - 2:45 - Industry Panel Discussion
- Hear from your counterparts in industry about their experiences in working through ASC 606
- Unseen obstacles
- Communication Issues
- Internal Control Issues
2:45 - 2:55 - Break
2:55 - 4:00 - Commissions
- Incremental Cost Capitalization
- Accelerator Commission Payments
- Multiple Costs for One Contract
- Contract Modifications
- Clawback Provisions
- Fringe Benefits
- Amortization Period
- Common Questions
4:00 - 4:05 - Break
4:05 - 5:05 - Disclosure Issues
- Adoption and Post-Adoption
- Disaggregated Revenue
- Reconciliation of Contract Balances
- Qualification of Performance Obligations
- Disclosure of Significant Assumptions
- Quantification of Costs to Complete a Contract
- Examples
- Next Steps
Agenda: DAY 2
8:45 - 10:45 - ASC 606: Interactive discussion on a series of scenarios
- Selected practice areas
- Group will use polling to work through each question
- Moderators from Connor Group will explain their recommended answers and explanations
10:45 - 11:00 - Break
11:00 - 12:00 - Industry Panel
- Each of (3) industry panelists will share their experiences in working through 606 and their ongoing problem areas, software, project management etc.
- Remainder of time will be open Q&A with the group and moderator
12:00 - 1:00 - Lunch
1:00 - 2:15 - Revenue Recognition: Case Studies and Practical Examples
- Material Right - Renewal Option
- Sales to Distributor
- Contract Does Not Meet the Criteria of Apply the New Model
- Good or Service is Distinct in the Context of the Contract
- Estimating the Transaction Price
- Sales-or-usage Based Fees
- When Does Control Transfer?
- Recognizing Revenue
2:15 - 2:25 - Break
2:25 - 3:35 - Tax Impact of the New Standard
- Tax Principle for revenue recognition
- Examples
- Other considerations
- Next steps
3:35 - 4:30 - 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
Speakers
Conference Speakers will include more members of the Hedgetrackers team in addition to guest speakers from other firms:
Helen Kane Hedgetrackers, President
Hedge Trackers CEO Helen Kane is a widely recognized leader in the application of ASC 815 (formerly FAS 133, Accounting for Derivative Instruments and Hedging Activities) within corporate environments. Helen founded Hedge Trackers in 2000 as a FAS 133 consulting and outsourcing firm providing deeply technical, yet practical solutions to Fortune 100 to 1000 companies. In the decade-plus since, she has provided vision and leadership underpinning the firm's evolution into a premier provider of hedge program management software, consulting, outsourced derivative accounting and knowledge transfer services.
For more information about this conference visit https://www.researchandmarkets.com/r/huf8gd
