2 Day Online Revenue Recognition Accounting Update (ASC 606) Conference: September 20-21, 2023

Research and Markets
·3-min read
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Dublin, May 10, 2023 (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 areas

  • Understand the big picture concepts from an SEC perspective

  • See where your counterparts are getting stuck

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

For more information about this conference visit https://www.researchandmarkets.com/r/rbp7mq

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