Revenue Recognition CPE Update: Evolving Issues - 2024 Online Seminar - Latest Developments in Key Areas, Significant Changes, Scope, Disclosure and Impacts

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Jan 19, 2024, 06:45 ET

DUBLIN, Jan. 19, 2024 /PRNewswire/ -- The "Revenue Recognition CPE Update: Evolving Issues 2024" conference has been added to ResearchAndMarkets.com's offering.

Get your annual revenue recognition update here! ASC 606 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

Agenda:

Agenda: DAY 1

8:45 - 11:00 - 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

11:00 - 11:15 - Break

11:15 - 12:45 - SEC & Revenue Recognition Perspectives

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

12:45 - 1:30 - Lunch Break

1:30 - 3:00 - Cases and Examples

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

3:00 - 3:15 - Break

3:15 - 4:30 - Impact on Internal Controls

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

Agenda: DAY 2

8:45 - 10:05 - Revenue Recognition: Fraud Issues

Context
Drivers of Rev Rec fraud
Rev Rec schemes and how they were perpetrated and what the ultimate outcomes were
How to best manage and or mitigate the risk of rev rec fraud

10:05 - 10:10 - Break

10:10 - 11:30 - 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

11:30 - 11:35 - Break

11:35 - 12:55 - Disclosures

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

12:55 - 1:30 - Lunch Break

1:30 - 4:20 - 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

Speakers

Brian Allen Effectus Group, Partner and National office Head
Abby Cohen Deloitte, Senior Manager
Keith Ma Effectus Group, Director of Technical Accounting
Disha Buch Deloitte, Senior Manager - National Office Accounting and Reporting Services
Miki Liu Deloitte, Manager - National Office Accounting and Reporting Services
Brian Aubuchon Effectus Group, Director
Aleks Zabreyko Connor Group, Senior Technical Partner
Jesse Fillerup Connor Group, Partner - Technical Accounting
Michael Kearney PwC, Director
Jeff Griffiths PwC, Director
Guido van Drunen, Retired KPMG PartnerGlobal Compliance Management and Response
Dominic Mills Grant Thornton, Partner - Technology Industry
Julie Dockins Grant Thornton, Audit Manager
Hailey Oh Deloitte, Senior Manager
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/vi06q5

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