Revenue Recognition Accounting Update (ASC 606) Conference: September 20-21, 2023 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Revenue Recognition Accounting Update (ASC 606)" conference has been added to ResearchAndMarkets.com's offering.

Get your annual revenue recognition update here! The new Revenue Recognition Standard made a significant impact on the way most companies recognize revenues. Best practices continue to evolve and there are a number of areas where companies are still searching for answers.

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
• Accounting Directors and Managers
• Senior Accountants
• Revenue Managers and Analysts
• Internal Auditors
• Tax Accountants
• Treasury Staff
• Internal Control/SOX Managers
• Public Accountants
• Educators

Agenda:

Agenda: DAY 1

8:45 - 10:55 Revenue Recognition: Past Issues and Emerging Trends

• Where people are getting stuck within the five-step model
• Price concessions
• Modifying contracts
• Customer options and material rights
• Performance obligations - software industry considerations
• Significant financing component
• Principal-versus-agent considerations
• Contract costs
• Onerous performance obligations/contracts

10:55 - 11:10 Break

11:10 - 12:30 Cases and Examples

• Areas of significant complexity and judgement
• Top causes of restatements
• Operational and business model changes
• Interaction with other guidance

12:30 - 1:00 Lunch Break

1:00 - 2:15 Industry Panel Discussion

• The format of this session will be interactive and led by a moderator. Three industry panelists will briefly introduce their companies and discuss their revenue recognition hot topics. Questions will follow from the moderator and attendees.

2:15 - 2:25 Break

2:25 - 3:40 SEC & Revenue Recognition Perspectives

• SEC Comment Letter Trends and Themes
• Accounting for usage-based fees
• Acquired Contract Assets/Liabilities from Business Combinations

3:40 - 3:45 Break

3:45 - 4:45 Revenue Automation

• Components of Revenue Automation
• Defined Approach to Automate Revenue Operations with Illustrative Example
• Types of Solutions that Enable Revenue Automation
• System Selection Considerations

Agenda: DAY 2

8:45 - 11:15 ASC 606: Interactive discussion on a series of scenarios

• Selected practice areas: Revenue Customer, Contract Duration, Enforceable Rights, Performance Obligations, Replacement Right, License Modifications, Measure of Progress, Contract Cost
• Group will use polling to work through each question
• Moderators from Connor Group will explain their recommended answers and explanations

9:55 - 10:10 Break

11:30 - 12:40 Disclosures

• Recent Trends
• Disaggregated revenue
• Reconciliation of contract balances
• Qualification of performance obligations
• Disclosure of significant assumptions
• Quantification of costs to complete a contract

12:40 - 1:20 Lunch Break

1:20 - 2:40 Commissions: Deeper Dive

• Adoption of ASC 340-40, Other Assets and Deferred Costs - Contracts With Customers
• Provide foundational understanding of identifying costs to be capitalized under ASC 340-40
• Provide foundational understanding of how to amortize incremental contract costs
• Provide an overview of disclosure requirements

2:40 - 2:45 Break

2:45 - 4:05 Impact on Internal Controls

• Changes in Information and Related Data - Quality Needs
• ASC 606 Internal Control Considerations
• Ongoing ASC 606 Controls
• Management Review Controls
• Information Used in Controls (IUC)
• IT-General Control Considerations
• COVID-19 Impact on Internal Controls
• SOX Optimization & Modernization

Speakers

• Brian Allen Effectus Group, Partner and National office Head
• Morgan Stanton BillingPlatform, Senior Product Manager
• Keith Ma Effectus Group, Director of Technical Accounting
• Garrett Copeland Deloitte, Senior Manager - National Office Accounting and Reporting Services
• Katherine Donzella Deloitte, Senior Manager - National Office Accounting and Reporting Services
• Brian Aubuchon Effectus Group, Director
• Aleks Zabreyko Connor Group, Senior Technical Partner
• Jesse Fillerup Connor Group, Director - Technical Accounting
• Jillian Zandonella PwC, Director
• Jeff Griffiths PwC, Director
• Mike Durelli, PwC. Deals Manager
• Dominic Mills Grant Thornton, Senior Manager
• Julie Dockins Grant Thornton, Audit Manager
• Gargi Ray Infosys, VP Finance
• Heather Bradshaw RSM, Senior Manager
• Chantal Adam Salesforce, VP Corporate Accounting
• Brandon Campbell PwC, Director
• Tai Fung Starbucks, Director - Assistant Controller
• Angela Liu Stealth, Strategy and Product

For more information about this conference visit https://www.researchandmarkets.com/r/8rp05