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2 Day Revenue Recognition Accounting Update (ASC 606) Online Conference: June 21-22, 2023

December 22, 2022

Dublin, Dec. 22, 2022 (GLOBE NEWSWIRE) -- 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 areasUnderstand the big picture concepts from an SEC perspectiveSee where your counterparts are getting stuck Who Should Attend: CFOs (and their staff)ControllersVPs of FinanceAccounting Directors and ManagersSenior AccountantsRevenue Managers and AnalystsInternal AuditorsTax AccountantsTreasury StaffInternal Control/SOX ManagersPublic AccountantsEducators Agenda: Agenda: DAY 1 8:45 - 10:55 Revenue Recognition: Past Issues and Emerging Trends Where people are getting stuck within the five-step modelPrice concessionsModifying contractsCustomer options and material rightsPerformance obligations - software industry considerationsSignificant financing componentPrincipal-versus-agent considerationsContract costsOnerous performance obligations/contracts 10:55 - 11:10 Break 11:10 - 12:30 Cases and Examples Areas of significant complexity and judgementTop causes of restatementsOperational and business model changesInteraction 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 ThemesAccounting for usage-based feesAcquired Contract Assets/Liabilities from Business Combinations 3:40 - 3:45 Break 3:45 - 4:45 Revenue Automation Components of Revenue AutomationDefined Approach to Automate Revenue Operations with Illustrative ExampleTypes of Solutions that Enable Revenue AutomationSystem 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 CostGroup will use polling to work through each questionModerators from Connor Group will explain their recommended answers and explanations 9:55 - 10:10 Break 11:30 - 12:40 Disclosures Recent TrendsDisaggregated revenueReconciliation of contract balancesQualification of performance obligationsDisclosure of significant assumptionsQuantification 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 CustomersProvide foundational understanding of identifying costs to be capitalized under ASC 340-40Provide foundational understanding of how to amortize incremental contract costsProvide 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 NeedsASC 606 Internal Control ConsiderationsOngoing ASC 606 ControlsManagement Review ControlsInformation Used in Controls (IUC)IT-General Control ConsiderationsCOVID-19 Impact on Internal ControlsSOX Optimization & Modernization For more information about this conference visit https://www.researchandmarkets.com/r/otatut

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