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

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

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

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