Revenue Recognition Accounting Update 2020: ASC 606 (Santa Clara, United States – June 22-23, 2020) – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Revenue Recognition Accounting Update 2020 (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, 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 the 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

  • Round Robin session on operational issues

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

For more information about this conference visit https://www.researchandmarkets.com/r/a3aqi2

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com
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