2-Day Program

See Credit Details Below

Overview

Why You Should Attend

Learn how to successfully use the new revenue recognition model in ASC 606. Through interactive lecture, case studies, and review of examples from adopting companies, Workshop participants will learn how the new revenue recognition standard measures and records revenue and affects the related estimates and judgments required. Participants will also grasp where problems and challenges, including SEC comments, are most likely to occur and develop the necessary tools to resolve these issues.

What You Will Learn

  • The required five-step process for revenue recognition in the new standard
  • Key judgments, frequent challenges and difficulties in applying each of the five steps
  • Issues in identifying contracts with customers, cancellation clauses, evergreen contracts and other contract judgments
  • How to identify performance obligations in a contract
  • Evolution and clarification of the concept of distinct
  • How to measure arrangement consideration
  • Dealing with variable consideration and other measurement issues
  • Allocating consideration to performance obligations
  • When a performance obligation is satisfied
  • Performance obligations satisfied over time
  • License and intellectual property accounting issues
  • Principal vs. agent analysis
  • Dealing with the volume of required disclosure
  • Making the call for how to disaggregate revenue for disclosure, including examples from early adopters
  • Joint Transition Resource Group and AICPA Task Force issues
  • Case studies and example SEC comments to explore issues in each of the five steps

What You Should Bring

To customize your Workshop experience and gain the most benefit from this interactive learning experience we recommend you bring examples of revenue recognition transactions from your company or a client along with the related disclosures.

Who Should Attend

This Workshop is geared to financial reporting professionals who are involved in revenue recognition accounting, who review such accounting, or who need to understand how revenue recognition affects their financial reporting.  In addition, professionals in other areas such as treasury, tax, analysis, counsel and operations who need to understand how revenue recognition changes will affect financial statements and related disclosure will benefit from this Workshop.

Program Level: Overview

Intended Audience:   Financial reporting professionals involved in revenue recognition accounting, who review such accounting, or who need to understand how revenue recognition affects their financial reporting. In addition, professionals in other areas such as treasury, tax, analysis, counsel and operations who need to understand how revenue recognition changes will affect financial statements and related disclosure.

Prerequisites: A background in financial reporting and accounting.

Advanced Preparation: None

Credit Details

Schedule & Location