Advertisement

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

Company Logo
Company Logo

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.

ADVERTISEMENT

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

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900