Seminar  Workshop

Implementing the FASB/IASB New Revenue Recognition Standard Workshop 2018


Select a Location:

Why You Should Attend

Learn how to successfully apply and use the new revenue recognition model in ASC 606 to ensure your implementation plan is complete.  Through interactive lecture, case studies and review of examples and experiences of early adopters, Workshop participants will learn how the new revenue recognition standard changes revenue recognition accounting and affects the related estimates and judgments required.  Participants will also grasp where problems and challenges 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
  • Examples of implementation from early adopters
  • The alternative adoption methods allowed
  • 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 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.

 

Prerequisites

None.


Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Day One: 9:00 a.m. - 5:00 p.m.

9:00 Transition and a Big Picture Overview of the Standard
  • Implementation date – periods beginning after December 15, 2017 for public companies
  • Transition alternatives
  • Issues in selecting a transition method
  • Objectives of the standard – underlying principles you need to know
  • The five-step model for revenue recognition
  • Review of approach and disclosures from early adopting companies
  • Scoping issues
  • Is convergence with the IASB version achieved?
  • Considerations for SAB 74 Disclosures


10:45 Networking Break

11:00 Five-Step Revenue Recognition Process
  • Step 1:Identifying Contracts with Customers
    • Characteristics of contracts in scope for revenue recognition
    • When does a contract have economic substance?
    • Contracts with cancelation clauses and “evergreen” contracts
    • Grappling with collectability
    • Collaboration agreements?
    • Distribution networks?
    • When to combine contracts
    • Contract acquisition costs
    • Contract fulfillment costs
    • Changes required for systems and recordkeeping
    • Contract modifications
  • Step 2: Identifying Separate Performance Obligations in Contracts
    • What are performance obligations?
    • Why identifying performance obligations is important – the unit of account for revenue recognition
    • Identifying products and services
    • When are products or services separate performance obligations?
    • The concept of distinct
    • The FASB’s clarification of the concept of distinct
    • Bundling or aggregating products or services that are not distinct
    • Are warranties a performance obligation?
    • Immaterial items within a contract
    • Shipping and handling issues


12:00 Networking Lunch

12:30 Five-Step Revenue Recognition Process (continued)
  • Step 2: Identifying Separate Performance Obligations in Contracts, continued
  • Step 3: Determining the Transaction Price
    • Variable consideration issues
    • Time value of money
    • Collectability considerations
    • Constraints on amount of revenue recognized
    • Sales tax considerations
    • Non-cash consideration
    • Consideration paid to a customer


3:00 Networking Break

3:15 Five-Step Revenue Recognition Process (continued)
  • Step 4: Allocating the Transaction Price to Separate Performance Obligations
    • Basis for allocation – relative standalone selling price
    • Estimating relative standalone selling price
    • When alternative allocation methods (e.g., the residual method) are appropriate
    • Case examples of allocating transaction price

 

5:00 Adjourn



Day Two: 9:00 a.m. - 4:30 p.m.

9:00 Five-Step Revenue Recognition Process (continued)
  • Step 5: Recognizing Revenue When a Performance Obligation Is Satisfied
    • The concept of control
    • Assessing when control transfers for each performance obligation
    • Transfer of control over time
    • Transfer of control at a point in time
    • Customer acceptance
    • Performance obligations satisfied over time – measuring performance
    • Case questions about transferring control


10:30 Networking Break

10:45 Disclosure Requirements and Implementation Challenges
  • Disclosure Requirements
    • Review of the new disclosure requirements – qualitative and quantitative
    • Disaggregated revenue
    • Contract cost disclosures
    • Presentation of uncollectible revenue
    • Judgments made in applying the standard
    • Transition disclosures
    • Thinking ahead to Critical Accounting Estimates disclosure
    • SEC reporting disclosure issues
    • Example disclosures from early adopters
  • ICFR Considerations
    • ICFR over the change process
    • ICFR for new processes, contracts and related issues
  • Implementation Challenges
    • Specific issues in applying the five-step model
    • Market communication challenges
    • Disclosure infrastructure
    • Tracking contract costs
    • Industry and product specific challenges
    • Other considerations
    • Managing the transition internally


12:00 Networking Luncheon

12:30 Implementation and Related Accounting Issues
  • Transition Decision Considerations
    • Pros and cons of the alternative methods
    • Market expectations
    • Making SAB 74 disclosures – growing in volume and more specifics near adoption date
    • Issues for the five-year summary in Form 10-K
    • Who should be involved in making the decision?
    • Survey of participants about expected adoption methods
  • Other recognition issues
    • Principal versus agent issues
    • License accounting
    • Specific issues, e.g. slotting fees, licenses and industry examples


2:45 Networking Break

3:00 Planning Your Transition
  • Changes to Your ICFR
    • Where will system modifications be necessary?
    • Managing the changes
  • Disclosure Infrastructure
    • System requirements for the new disclosures
    • Building your new accounting policy disclosure
    • Building appropriate processes and reviews
    • ICFR considerations for disclosures
  • Tracking Contract Costs
    • Which costs to track?
    • Policy election for one-year limit
    • System requirements
  • Industry and product specific challenges
    • Licenses – a right versus access
    • Performance obligations satisfied over time?
    • Interpretation of performance obligation definition in specific industries
    • Software related challenges
  • Managing the transition internally
    • Building the team
    • Impact on planning and budgeting
    • Impact on taxes
    • Impact on other areas, compensation arrangements, etc.
    • Internal communication and transition planning
  • Final Q&A and Wrap-up

 

4:30 Adjourn



Instructor(s)
Ronald W. Maples ~ Independent Business Consultant, The Maple Tree Group
George M. Wilson, MBA, CPA ~ Director, SEC Institute, a Division of PLI
Program Attorney(s)
Robin D. Goldstein ~ Director & Sr. Program Attorney, PLI

New York City Seminar Location

PLI New York Center
, 1177 Avenue of the Americas, (2nd floor), entrance on 45th Street, New York, New York 10036. (800) 260-4754.

New York City Hotel Accommodations

Crowne Plaza Times Square Manhattan, 1605 Broadway (at 48th Street), New York, NY 10019 (212) 977-4000. When calling, mention Practising Law Institute. You can also make reservations online to access PLI's rates.

The Muse, 130 West 46th Street, New York, NY 10036. Please call reservations at 1-800-546-7866. When calling, please mention Practising Law Institute and rate code PLII. You can also Book Online- Kimpton.

Millennium Broadway Hotel, 145 West 44th Street, New York, NY 10036. Please call reservations at 1-800-622-5569. When calling, please mention Practising Law Institute. You can also book online.

Hyatt Times Square, 135 W. 45th Street, New York, NY 10036. For reservations, please call (646) 364-1234. When calling mention rate code CR56218 or Practising Law Institute.

General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.


U.S. MCLE States

Alabama:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Alaska:  All SEC Institute products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Arizona:  SEC Institute’s workshops qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

California:  SEC Institute’s workshops qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All SEC Institute products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Connecticut: Effective January 1, 2017, all SEC Institute products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Delaware:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Florida:  All SEC Institute products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Georgia:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Hawaii:  All SEC Institute products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Idaho:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Illinois:  All SEC Institute products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Indiana:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Iowa:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Kansas:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live programs.

Kentucky:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Louisiana:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Maine:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Minnesota:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Mississippi:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Missouri:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Montana:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Nebraska:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Nevada:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New Hampshire:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New Jersey:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New Mexico:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New York

Experienced Attorneys:  All SEC Institute products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Newly Admitted Attorneys: Select transitional SEC Institute workshops can be used to fulfill the requirements for newly admitted attorneys. Please check the “Credit Information” box on the program page to ensure credit is approved. All credit categories may be earned via transitional SEC Institute workshops.

North Carolina:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

North Dakota:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Ohio:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Oklahoma:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Oregon:  All SEC Institute products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Pennsylvania: SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Puerto Rico:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Rhode Island:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

South Carolina:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Tennessee:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Texas:  All SEC Institute products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Utah:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Vermont:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Virgin Islands:  All SEC Institute products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Virginia:  SEC Institute’s workshops qualify as “live interactive” credit. There is no limit to the number of credits an attorney can earn via live interactive programs.

Washington:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

West Virginia:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Wisconsin:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Wyoming:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.


CPD Jurisdictions

British Columbia (CPD-BC):  SEC Institute’s workshops qualify as “real-time” credit. There is no limit to the number of credits an attorney can earn via real-time programs.

Ontario (CPD-ON):  SEC Institute’s workshops qualify as “interactive” credit. There is no limit to the number of credits an attorney can earn via interactive programs.

Quebec (CPD-QC):  SEC Institute’s workshops can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of points an attorney can earn via workshops.

United Kingdom (CPD-UK):  SEC Institute’s workshops can fulfill the United Kingdom’s CPD requirements.

Australia (CPD-AUS):  SEC Institute’s workshops qualify as “live” credit in all Australian jurisdictions. There is no limit to the number of credits an attorney can earn via workshops.


Other Credit Types

CPE Credit (NASBA): SEC Institute’s workshops qualify as “Group-Live delivery” credit.

IRS Continuing Education (IRS-CE):  SEC Institute’s workshops may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at plicredits@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  SEC Institute’s workshops may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at plicredits@pli.edu.

IAPP Continuing Privacy Credit (CPE):  SEC Institute’s workshops may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  SEC Institute’s workshops may fulfill HR credit requirements.

SHRM Recertification (SHRM):  SEC Institute’s workshops qualify as "instructor-led" credit. There is no limit to the number of credits an SHRM professional can earn via instructor-led programs.

Compliance Certification Board (CCB):  SEC Institute’s workshops qualify as “live” training events. There is no limit to the number of credits a candidate or certification holder can earn via workshops.

Certified Anti-Money Laundering Specialists (CAMS):  SEC Institute’s workshops may fulfill CAMS credit requirements.

New York State Social Worker Continuing Education (SW CPE):  SEC Institute’s workshops may fulfill SW CPE credit requirements.

Why You Should Attend

Learn how to successfully apply and use the new revenue recognition model in ASC 606 to ensure your implementation plan is complete.  Through interactive lecture, case studies and review of examples and experiences of early adopters, Workshop participants will learn how the new revenue recognition standard changes revenue recognition accounting and affects the related estimates and judgments required.  Participants will also grasp where problems and challenges 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
  • Examples of implementation from early adopters
  • The alternative adoption methods allowed
  • 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 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.

 

Prerequisites

None.


Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Day One: 9:00 a.m. - 5:00 p.m.

9:00 Transition and a Big Picture Overview of the Standard
  • Implementation date – periods beginning after December 15, 2017 for public companies
  • Transition alternatives
  • Issues in selecting a transition method
  • Objectives of the standard – underlying principles you need to know
  • The five-step model for revenue recognition
  • Review of approach and disclosures from early adopting companies
  • Scoping issues
  • Is convergence with the IASB version achieved?
  • Considerations for SAB 74 Disclosures


10:45 Networking Break

11:00 Five-Step Revenue Recognition Process
  • Step 1:Identifying Contracts with Customers
    • Characteristics of contracts in scope for revenue recognition
    • When does a contract have economic substance?
    • Contracts with cancelation clauses and “evergreen” contracts
    • Grappling with collectability
    • Collaboration agreements?
    • Distribution networks?
    • When to combine contracts
    • Contract acquisition costs
    • Contract fulfillment costs
    • Changes required for systems and recordkeeping
    • Contract modifications
  • Step 2: Identifying Separate Performance Obligations in Contracts
    • What are performance obligations?
    • Why identifying performance obligations is important – the unit of account for revenue recognition
    • Identifying products and services
    • When are products or services separate performance obligations?
    • The concept of distinct
    • The FASB’s clarification of the concept of distinct
    • Bundling or aggregating products or services that are not distinct
    • Are warranties a performance obligation?
    • Immaterial items within a contract
    • Shipping and handling issues


12:00 Networking Lunch

12:30 Five-Step Revenue Recognition Process (continued)
  • Step 2: Identifying Separate Performance Obligations in Contracts, continued
  • Step 3: Determining the Transaction Price
    • Variable consideration issues
    • Time value of money
    • Collectability considerations
    • Constraints on amount of revenue recognized
    • Sales tax considerations
    • Non-cash consideration
    • Consideration paid to a customer


3:00 Networking Break

3:15 Five-Step Revenue Recognition Process (continued)
  • Step 4: Allocating the Transaction Price to Separate Performance Obligations
    • Basis for allocation – relative standalone selling price
    • Estimating relative standalone selling price
    • When alternative allocation methods (e.g., the residual method) are appropriate
    • Case examples of allocating transaction price

 

5:00 Adjourn



Day Two: 9:00 a.m. - 4:30 p.m.

9:00 Five-Step Revenue Recognition Process (continued)
  • Step 5: Recognizing Revenue When a Performance Obligation Is Satisfied
    • The concept of control
    • Assessing when control transfers for each performance obligation
    • Transfer of control over time
    • Transfer of control at a point in time
    • Customer acceptance
    • Performance obligations satisfied over time – measuring performance
    • Case questions about transferring control


10:30 Networking Break

10:45 Disclosure Requirements and Implementation Challenges
  • Disclosure Requirements
    • Review of the new disclosure requirements – qualitative and quantitative
    • Disaggregated revenue
    • Contract cost disclosures
    • Presentation of uncollectible revenue
    • Judgments made in applying the standard
    • Transition disclosures
    • Thinking ahead to Critical Accounting Estimates disclosure
    • SEC reporting disclosure issues
    • Example disclosures from early adopters
  • ICFR Considerations
    • ICFR over the change process
    • ICFR for new processes, contracts and related issues
  • Implementation Challenges
    • Specific issues in applying the five-step model
    • Market communication challenges
    • Disclosure infrastructure
    • Tracking contract costs
    • Industry and product specific challenges
    • Other considerations
    • Managing the transition internally


12:00 Networking Luncheon

12:30 Implementation and Related Accounting Issues
  • Transition Decision Considerations
    • Pros and cons of the alternative methods
    • Market expectations
    • Making SAB 74 disclosures – growing in volume and more specifics near adoption date
    • Issues for the five-year summary in Form 10-K
    • Who should be involved in making the decision?
    • Survey of participants about expected adoption methods
  • Other recognition issues
    • Principal versus agent issues
    • License accounting
    • Specific issues, e.g. slotting fees, licenses and industry examples


2:45 Networking Break

3:00 Planning Your Transition
  • Changes to Your ICFR
    • Where will system modifications be necessary?
    • Managing the changes
  • Disclosure Infrastructure
    • System requirements for the new disclosures
    • Building your new accounting policy disclosure
    • Building appropriate processes and reviews
    • ICFR considerations for disclosures
  • Tracking Contract Costs
    • Which costs to track?
    • Policy election for one-year limit
    • System requirements
  • Industry and product specific challenges
    • Licenses – a right versus access
    • Performance obligations satisfied over time?
    • Interpretation of performance obligation definition in specific industries
    • Software related challenges
  • Managing the transition internally
    • Building the team
    • Impact on planning and budgeting
    • Impact on taxes
    • Impact on other areas, compensation arrangements, etc.
    • Internal communication and transition planning
  • Final Q&A and Wrap-up

 

4:30 Adjourn



Instructor(s)
Ronald W. Maples ~ Independent Business Consultant, The Maple Tree Group
George M. Wilson, MBA, CPA ~ Director, SEC Institute, a Division of PLI
Program Attorney(s)
Robin D. Goldstein ~ Director & Sr. Program Attorney, PLI

Chicago Seminar Location

University of Chicago Gleacher Center, 450 N. Cityfront Plaza Drive, Chicago, Il 60611. (312) 464-8787.

Hotel Accommodation

Intercontinental Hotel Chicago, 505 N. Michigan Avenue, Chicago, IL 60611. (312) 944-4100. Please contact the hotel directly for the preferred rate and mention Practising Law Institute or Corporate ID 100312169.  You may also book online at PRACTISING LAW INSTITUTE.    Please note that the rate is a corporate and not a group rate. 

General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.


U.S. MCLE States

Alabama:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Alaska:  All SEC Institute products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Arizona:  SEC Institute’s workshops qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

California:  SEC Institute’s workshops qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All SEC Institute products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Connecticut: Effective January 1, 2017, all SEC Institute products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Delaware:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Florida:  All SEC Institute products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Georgia:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Hawaii:  All SEC Institute products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Idaho:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Illinois:  All SEC Institute products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Indiana:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Iowa:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Kansas:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live programs.

Kentucky:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Louisiana:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Maine:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Minnesota:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Mississippi:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Missouri:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Montana:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Nebraska:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Nevada:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New Hampshire:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New Jersey:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New Mexico:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New York

Experienced Attorneys:  All SEC Institute products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Newly Admitted Attorneys: Select transitional SEC Institute workshops can be used to fulfill the requirements for newly admitted attorneys. Please check the “Credit Information” box on the program page to ensure credit is approved. All credit categories may be earned via transitional SEC Institute workshops.

North Carolina:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

North Dakota:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Ohio:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Oklahoma:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Oregon:  All SEC Institute products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Pennsylvania: SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Puerto Rico:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Rhode Island:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

South Carolina:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Tennessee:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Texas:  All SEC Institute products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Utah:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Vermont:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Virgin Islands:  All SEC Institute products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Virginia:  SEC Institute’s workshops qualify as “live interactive” credit. There is no limit to the number of credits an attorney can earn via live interactive programs.

Washington:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

West Virginia:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Wisconsin:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Wyoming:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.


CPD Jurisdictions

British Columbia (CPD-BC):  SEC Institute’s workshops qualify as “real-time” credit. There is no limit to the number of credits an attorney can earn via real-time programs.

Ontario (CPD-ON):  SEC Institute’s workshops qualify as “interactive” credit. There is no limit to the number of credits an attorney can earn via interactive programs.

Quebec (CPD-QC):  SEC Institute’s workshops can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of points an attorney can earn via workshops.

United Kingdom (CPD-UK):  SEC Institute’s workshops can fulfill the United Kingdom’s CPD requirements.

Australia (CPD-AUS):  SEC Institute’s workshops qualify as “live” credit in all Australian jurisdictions. There is no limit to the number of credits an attorney can earn via workshops.


Other Credit Types

CPE Credit (NASBA): SEC Institute’s workshops qualify as “Group-Live delivery” credit.

IRS Continuing Education (IRS-CE):  SEC Institute’s workshops may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at plicredits@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  SEC Institute’s workshops may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at plicredits@pli.edu.

IAPP Continuing Privacy Credit (CPE):  SEC Institute’s workshops may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  SEC Institute’s workshops may fulfill HR credit requirements.

SHRM Recertification (SHRM):  SEC Institute’s workshops qualify as "instructor-led" credit. There is no limit to the number of credits an SHRM professional can earn via instructor-led programs.

Compliance Certification Board (CCB):  SEC Institute’s workshops qualify as “live” training events. There is no limit to the number of credits a candidate or certification holder can earn via workshops.

Certified Anti-Money Laundering Specialists (CAMS):  SEC Institute’s workshops may fulfill CAMS credit requirements.

New York State Social Worker Continuing Education (SW CPE):  SEC Institute’s workshops may fulfill SW CPE credit requirements.

Why You Should Attend

Learn how to successfully apply and use the new revenue recognition model in ASC 606 to ensure your implementation plan is complete.  Through interactive lecture, case studies and review of examples and experiences of early adopters, Workshop participants will learn how the new revenue recognition standard changes revenue recognition accounting and affects the related estimates and judgments required.  Participants will also grasp where problems and challenges 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
  • Examples of implementation from early adopters
  • The alternative adoption methods allowed
  • 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 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.

 

Prerequisites

None.


Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Day One: 9:00 a.m. - 5:00 p.m.

9:00 Transition and a Big Picture Overview of the Standard
  • Implementation date – periods beginning after December 15, 2017 for public companies
  • Transition alternatives
  • Issues in selecting a transition method
  • Objectives of the standard – underlying principles you need to know
  • The five-step model for revenue recognition
  • Review of approach and disclosures from early adopting companies
  • Scoping issues
  • Is convergence with the IASB version achieved?
  • Considerations for SAB 74 Disclosures


10:45 Networking Break

11:00 Five-Step Revenue Recognition Process
  • Step 1:Identifying Contracts with Customers
    • Characteristics of contracts in scope for revenue recognition
    • When does a contract have economic substance?
    • Contracts with cancelation clauses and “evergreen” contracts
    • Grappling with collectability
    • Collaboration agreements?
    • Distribution networks?
    • When to combine contracts
    • Contract acquisition costs
    • Contract fulfillment costs
    • Changes required for systems and recordkeeping
    • Contract modifications
  • Step 2: Identifying Separate Performance Obligations in Contracts
    • What are performance obligations?
    • Why identifying performance obligations is important – the unit of account for revenue recognition
    • Identifying products and services
    • When are products or services separate performance obligations?
    • The concept of distinct
    • The FASB’s clarification of the concept of distinct
    • Bundling or aggregating products or services that are not distinct
    • Are warranties a performance obligation?
    • Immaterial items within a contract
    • Shipping and handling issues


12:00 Networking Lunch

12:30 Five-Step Revenue Recognition Process (continued)
  • Step 2: Identifying Separate Performance Obligations in Contracts, continued
  • Step 3: Determining the Transaction Price
    • Variable consideration issues
    • Time value of money
    • Collectability considerations
    • Constraints on amount of revenue recognized
    • Sales tax considerations
    • Non-cash consideration
    • Consideration paid to a customer


3:00 Networking Break

3:15 Five-Step Revenue Recognition Process (continued)
  • Step 4: Allocating the Transaction Price to Separate Performance Obligations
    • Basis for allocation – relative standalone selling price
    • Estimating relative standalone selling price
    • When alternative allocation methods (e.g., the residual method) are appropriate
    • Case examples of allocating transaction price

 

5:00 Adjourn



Day Two: 9:00 a.m. - 4:30 p.m.

9:00 Five-Step Revenue Recognition Process (continued)
  • Step 5: Recognizing Revenue When a Performance Obligation Is Satisfied
    • The concept of control
    • Assessing when control transfers for each performance obligation
    • Transfer of control over time
    • Transfer of control at a point in time
    • Customer acceptance
    • Performance obligations satisfied over time – measuring performance
    • Case questions about transferring control


10:30 Networking Break

10:45 Disclosure Requirements and Implementation Challenges
  • Disclosure Requirements
    • Review of the new disclosure requirements – qualitative and quantitative
    • Disaggregated revenue
    • Contract cost disclosures
    • Presentation of uncollectible revenue
    • Judgments made in applying the standard
    • Transition disclosures
    • Thinking ahead to Critical Accounting Estimates disclosure
    • SEC reporting disclosure issues
    • Example disclosures from early adopters
  • ICFR Considerations
    • ICFR over the change process
    • ICFR for new processes, contracts and related issues
  • Implementation Challenges
    • Specific issues in applying the five-step model
    • Market communication challenges
    • Disclosure infrastructure
    • Tracking contract costs
    • Industry and product specific challenges
    • Other considerations
    • Managing the transition internally


12:00 Networking Luncheon

12:30 Implementation and Related Accounting Issues
  • Transition Decision Considerations
    • Pros and cons of the alternative methods
    • Market expectations
    • Making SAB 74 disclosures – growing in volume and more specifics near adoption date
    • Issues for the five-year summary in Form 10-K
    • Who should be involved in making the decision?
    • Survey of participants about expected adoption methods
  • Other recognition issues
    • Principal versus agent issues
    • License accounting
    • Specific issues, e.g. slotting fees, licenses and industry examples


2:45 Networking Break

3:00 Planning Your Transition
  • Changes to Your ICFR
    • Where will system modifications be necessary?
    • Managing the changes
  • Disclosure Infrastructure
    • System requirements for the new disclosures
    • Building your new accounting policy disclosure
    • Building appropriate processes and reviews
    • ICFR considerations for disclosures
  • Tracking Contract Costs
    • Which costs to track?
    • Policy election for one-year limit
    • System requirements
  • Industry and product specific challenges
    • Licenses – a right versus access
    • Performance obligations satisfied over time?
    • Interpretation of performance obligation definition in specific industries
    • Software related challenges
  • Managing the transition internally
    • Building the team
    • Impact on planning and budgeting
    • Impact on taxes
    • Impact on other areas, compensation arrangements, etc.
    • Internal communication and transition planning
  • Final Q&A and Wrap-up

 

4:30 Adjourn



Instructor(s)
George M. Wilson, MBA, CPA ~ Director, SEC Institute, a Division of PLI
Program Attorney(s)
Robin D. Goldstein ~ Director & Sr. Program Attorney, PLI

San Francisco Seminar Location

PLI California Center, 685 Market Street, San Francisco, California 94105. (800) 260-4754.

San Francisco Hotel Accommodations

Park Central Hotel, 50 Third Street, San Francisco, CA 94103. 415-974-6400. When calling, please mention PLI and SET#287179. In addition, you may book online at Park Central Hotel PLI.

Omni Hotel San Francisco, 500 California Street, San Francisco, CA 94104. 415-677-9494.  When calling, please mention Practising Law Institute.  You may also book online at PLI Omni Hotel 2017.

Due to high demand we recommend reserving hotel rooms as early as possible.

General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.


U.S. MCLE States

Alabama:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Alaska:  All SEC Institute products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Arizona:  SEC Institute’s workshops qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

California:  SEC Institute’s workshops qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All SEC Institute products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Connecticut: Effective January 1, 2017, all SEC Institute products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Delaware:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Florida:  All SEC Institute products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Georgia:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Hawaii:  All SEC Institute products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Idaho:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Illinois:  All SEC Institute products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Indiana:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Iowa:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Kansas:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live programs.

Kentucky:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Louisiana:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Maine:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Minnesota:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Mississippi:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Missouri:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Montana:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Nebraska:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Nevada:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New Hampshire:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New Jersey:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New Mexico:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New York

Experienced Attorneys:  All SEC Institute products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Newly Admitted Attorneys: Select transitional SEC Institute workshops can be used to fulfill the requirements for newly admitted attorneys. Please check the “Credit Information” box on the program page to ensure credit is approved. All credit categories may be earned via transitional SEC Institute workshops.

North Carolina:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

North Dakota:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Ohio:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Oklahoma:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Oregon:  All SEC Institute products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Pennsylvania: SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Puerto Rico:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Rhode Island:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

South Carolina:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Tennessee:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Texas:  All SEC Institute products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Utah:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Vermont:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Virgin Islands:  All SEC Institute products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Virginia:  SEC Institute’s workshops qualify as “live interactive” credit. There is no limit to the number of credits an attorney can earn via live interactive programs.

Washington:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

West Virginia:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Wisconsin:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Wyoming:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.


CPD Jurisdictions

British Columbia (CPD-BC):  SEC Institute’s workshops qualify as “real-time” credit. There is no limit to the number of credits an attorney can earn via real-time programs.

Ontario (CPD-ON):  SEC Institute’s workshops qualify as “interactive” credit. There is no limit to the number of credits an attorney can earn via interactive programs.

Quebec (CPD-QC):  SEC Institute’s workshops can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of points an attorney can earn via workshops.

United Kingdom (CPD-UK):  SEC Institute’s workshops can fulfill the United Kingdom’s CPD requirements.

Australia (CPD-AUS):  SEC Institute’s workshops qualify as “live” credit in all Australian jurisdictions. There is no limit to the number of credits an attorney can earn via workshops.


Other Credit Types

CPE Credit (NASBA): SEC Institute’s workshops qualify as “Group-Live delivery” credit.

IRS Continuing Education (IRS-CE):  SEC Institute’s workshops may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at plicredits@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  SEC Institute’s workshops may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at plicredits@pli.edu.

IAPP Continuing Privacy Credit (CPE):  SEC Institute’s workshops may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  SEC Institute’s workshops may fulfill HR credit requirements.

SHRM Recertification (SHRM):  SEC Institute’s workshops qualify as "instructor-led" credit. There is no limit to the number of credits an SHRM professional can earn via instructor-led programs.

Compliance Certification Board (CCB):  SEC Institute’s workshops qualify as “live” training events. There is no limit to the number of credits a candidate or certification holder can earn via workshops.

Certified Anti-Money Laundering Specialists (CAMS):  SEC Institute’s workshops may fulfill CAMS credit requirements.

New York State Social Worker Continuing Education (SW CPE):  SEC Institute’s workshops may fulfill SW CPE credit requirements.

Why You Should Attend

Learn how to successfully apply and use the new revenue recognition model in ASC 606 to ensure your implementation plan is complete.  Through interactive lecture, case studies and review of examples and experiences of early adopters, Workshop participants will learn how the new revenue recognition standard changes revenue recognition accounting and affects the related estimates and judgments required.  Participants will also grasp where problems and challenges 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
  • Examples of implementation from early adopters
  • The alternative adoption methods allowed
  • 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 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.

 

Prerequisites

None.


Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Day One: 9:00 a.m. - 5:00 p.m.

9:00 Transition and a Big Picture Overview of the Standard
  • Implementation date – periods beginning after December 15, 2017 for public companies
  • Transition alternatives
  • Issues in selecting a transition method
  • Objectives of the standard – underlying principles you need to know
  • The five-step model for revenue recognition
  • Review of approach and disclosures from early adopting companies
  • Scoping issues
  • Is convergence with the IASB version achieved?
  • Considerations for SAB 74 Disclosures


10:45 Networking Break

11:00 Five-Step Revenue Recognition Process
  • Step 1:Identifying Contracts with Customers
    • Characteristics of contracts in scope for revenue recognition
    • When does a contract have economic substance?
    • Contracts with cancelation clauses and “evergreen” contracts
    • Grappling with collectability
    • Collaboration agreements?
    • Distribution networks?
    • When to combine contracts
    • Contract acquisition costs
    • Contract fulfillment costs
    • Changes required for systems and recordkeeping
    • Contract modifications
  • Step 2: Identifying Separate Performance Obligations in Contracts
    • What are performance obligations?
    • Why identifying performance obligations is important – the unit of account for revenue recognition
    • Identifying products and services
    • When are products or services separate performance obligations?
    • The concept of distinct
    • The FASB’s clarification of the concept of distinct
    • Bundling or aggregating products or services that are not distinct
    • Are warranties a performance obligation?
    • Immaterial items within a contract
    • Shipping and handling issues


12:00 Networking Lunch

12:30 Five-Step Revenue Recognition Process (continued)
  • Step 2: Identifying Separate Performance Obligations in Contracts, continued
  • Step 3: Determining the Transaction Price
    • Variable consideration issues
    • Time value of money
    • Collectability considerations
    • Constraints on amount of revenue recognized
    • Sales tax considerations
    • Non-cash consideration
    • Consideration paid to a customer


3:00 Networking Break

3:15 Five-Step Revenue Recognition Process (continued)
  • Step 4: Allocating the Transaction Price to Separate Performance Obligations
    • Basis for allocation – relative standalone selling price
    • Estimating relative standalone selling price
    • When alternative allocation methods (e.g., the residual method) are appropriate
    • Case examples of allocating transaction price

 

5:00 Adjourn



Day Two: 9:00 a.m. - 4:30 p.m.

9:00 Five-Step Revenue Recognition Process (continued)
  • Step 5: Recognizing Revenue When a Performance Obligation Is Satisfied
    • The concept of control
    • Assessing when control transfers for each performance obligation
    • Transfer of control over time
    • Transfer of control at a point in time
    • Customer acceptance
    • Performance obligations satisfied over time – measuring performance
    • Case questions about transferring control


10:30 Networking Break

10:45 Disclosure Requirements and Implementation Challenges
  • Disclosure Requirements
    • Review of the new disclosure requirements – qualitative and quantitative
    • Disaggregated revenue
    • Contract cost disclosures
    • Presentation of uncollectible revenue
    • Judgments made in applying the standard
    • Transition disclosures
    • Thinking ahead to Critical Accounting Estimates disclosure
    • SEC reporting disclosure issues
    • Example disclosures from early adopters
  • ICFR Considerations
    • ICFR over the change process
    • ICFR for new processes, contracts and related issues
  • Implementation Challenges
    • Specific issues in applying the five-step model
    • Market communication challenges
    • Disclosure infrastructure
    • Tracking contract costs
    • Industry and product specific challenges
    • Other considerations
    • Managing the transition internally


12:00 Networking Luncheon

12:30 Implementation and Related Accounting Issues
  • Transition Decision Considerations
    • Pros and cons of the alternative methods
    • Market expectations
    • Making SAB 74 disclosures – growing in volume and more specifics near adoption date
    • Issues for the five-year summary in Form 10-K
    • Who should be involved in making the decision?
    • Survey of participants about expected adoption methods
  • Other recognition issues
    • Principal versus agent issues
    • License accounting
    • Specific issues, e.g. slotting fees, licenses and industry examples


2:45 Networking Break

3:00 Planning Your Transition
  • Changes to Your ICFR
    • Where will system modifications be necessary?
    • Managing the changes
  • Disclosure Infrastructure
    • System requirements for the new disclosures
    • Building your new accounting policy disclosure
    • Building appropriate processes and reviews
    • ICFR considerations for disclosures
  • Tracking Contract Costs
    • Which costs to track?
    • Policy election for one-year limit
    • System requirements
  • Industry and product specific challenges
    • Licenses – a right versus access
    • Performance obligations satisfied over time?
    • Interpretation of performance obligation definition in specific industries
    • Software related challenges
  • Managing the transition internally
    • Building the team
    • Impact on planning and budgeting
    • Impact on taxes
    • Impact on other areas, compensation arrangements, etc.
    • Internal communication and transition planning
  • Final Q&A and Wrap-up

 

4:30 Adjourn



Instructor(s)
George M. Wilson, MBA, CPA ~ Director, SEC Institute, a Division of PLI
Program Attorney(s)
Robin D. Goldstein ~ Director & Sr. Program Attorney, PLI
The Fairmont Hotel, 1717 N. Akard Street, Dallas, TX 75201

General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.


U.S. MCLE States

Alabama:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Alaska:  All SEC Institute products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Arizona:  SEC Institute’s workshops qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

California:  SEC Institute’s workshops qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All SEC Institute products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Connecticut: Effective January 1, 2017, all SEC Institute products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Delaware:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Florida:  All SEC Institute products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Georgia:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Hawaii:  All SEC Institute products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Idaho:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Illinois:  All SEC Institute products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Indiana:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Iowa:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Kansas:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live programs.

Kentucky:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Louisiana:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Maine:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Minnesota:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Mississippi:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Missouri:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Montana:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Nebraska:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Nevada:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New Hampshire:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New Jersey:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New Mexico:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New York

Experienced Attorneys:  All SEC Institute products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Newly Admitted Attorneys: Select transitional SEC Institute workshops can be used to fulfill the requirements for newly admitted attorneys. Please check the “Credit Information” box on the program page to ensure credit is approved. All credit categories may be earned via transitional SEC Institute workshops.

North Carolina:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

North Dakota:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Ohio:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Oklahoma:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Oregon:  All SEC Institute products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Pennsylvania: SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Puerto Rico:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Rhode Island:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

South Carolina:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Tennessee:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Texas:  All SEC Institute products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Utah:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Vermont:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Virgin Islands:  All SEC Institute products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Virginia:  SEC Institute’s workshops qualify as “live interactive” credit. There is no limit to the number of credits an attorney can earn via live interactive programs.

Washington:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

West Virginia:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Wisconsin:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Wyoming:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.


CPD Jurisdictions

British Columbia (CPD-BC):  SEC Institute’s workshops qualify as “real-time” credit. There is no limit to the number of credits an attorney can earn via real-time programs.

Ontario (CPD-ON):  SEC Institute’s workshops qualify as “interactive” credit. There is no limit to the number of credits an attorney can earn via interactive programs.

Quebec (CPD-QC):  SEC Institute’s workshops can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of points an attorney can earn via workshops.

United Kingdom (CPD-UK):  SEC Institute’s workshops can fulfill the United Kingdom’s CPD requirements.

Australia (CPD-AUS):  SEC Institute’s workshops qualify as “live” credit in all Australian jurisdictions. There is no limit to the number of credits an attorney can earn via workshops.


Other Credit Types

CPE Credit (NASBA): SEC Institute’s workshops qualify as “Group-Live delivery” credit.

IRS Continuing Education (IRS-CE):  SEC Institute’s workshops may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at plicredits@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  SEC Institute’s workshops may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at plicredits@pli.edu.

IAPP Continuing Privacy Credit (CPE):  SEC Institute’s workshops may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  SEC Institute’s workshops may fulfill HR credit requirements.

SHRM Recertification (SHRM):  SEC Institute’s workshops qualify as "instructor-led" credit. There is no limit to the number of credits an SHRM professional can earn via instructor-led programs.

Compliance Certification Board (CCB):  SEC Institute’s workshops qualify as “live” training events. There is no limit to the number of credits a candidate or certification holder can earn via workshops.

Certified Anti-Money Laundering Specialists (CAMS):  SEC Institute’s workshops may fulfill CAMS credit requirements.

New York State Social Worker Continuing Education (SW CPE):  SEC Institute’s workshops may fulfill SW CPE credit requirements.

Why You Should Attend

Learn how to successfully apply and use the new revenue recognition model in ASC 606 to ensure your implementation plan is complete.  Through interactive lecture, case studies and review of examples and experiences of early adopters, Workshop participants will learn how the new revenue recognition standard changes revenue recognition accounting and affects the related estimates and judgments required.  Participants will also grasp where problems and challenges 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
  • Examples of implementation from early adopters
  • The alternative adoption methods allowed
  • 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 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.

 

Prerequisites

None.


Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Day One: 9:00 a.m. - 5:00 p.m.

9:00 Transition and a Big Picture Overview of the Standard
  • Implementation date – periods beginning after December 15, 2017 for public companies
  • Transition alternatives
  • Issues in selecting a transition method
  • Objectives of the standard – underlying principles you need to know
  • The five-step model for revenue recognition
  • Review of approach and disclosures from early adopting companies
  • Scoping issues
  • Is convergence with the IASB version achieved?
  • Considerations for SAB 74 Disclosures


10:45 Networking Break

11:00 Five-Step Revenue Recognition Process
  • Step 1:Identifying Contracts with Customers
    • Characteristics of contracts in scope for revenue recognition
    • When does a contract have economic substance?
    • Contracts with cancelation clauses and “evergreen” contracts
    • Grappling with collectability
    • Collaboration agreements?
    • Distribution networks?
    • When to combine contracts
    • Contract acquisition costs
    • Contract fulfillment costs
    • Changes required for systems and recordkeeping
    • Contract modifications
  • Step 2: Identifying Separate Performance Obligations in Contracts
    • What are performance obligations?
    • Why identifying performance obligations is important – the unit of account for revenue recognition
    • Identifying products and services
    • When are products or services separate performance obligations?
    • The concept of distinct
    • The FASB’s clarification of the concept of distinct
    • Bundling or aggregating products or services that are not distinct
    • Are warranties a performance obligation?
    • Immaterial items within a contract
    • Shipping and handling issues


12:00 Networking Lunch

12:30 Five-Step Revenue Recognition Process (continued)
  • Step 2: Identifying Separate Performance Obligations in Contracts, continued
  • Step 3: Determining the Transaction Price
    • Variable consideration issues
    • Time value of money
    • Collectability considerations
    • Constraints on amount of revenue recognized
    • Sales tax considerations
    • Non-cash consideration
    • Consideration paid to a customer


3:00 Networking Break

3:15 Five-Step Revenue Recognition Process (continued)
  • Step 4: Allocating the Transaction Price to Separate Performance Obligations
    • Basis for allocation – relative standalone selling price
    • Estimating relative standalone selling price
    • When alternative allocation methods (e.g., the residual method) are appropriate
    • Case examples of allocating transaction price

 

5:00 Adjourn



Day Two: 9:00 a.m. - 4:30 p.m.

9:00 Five-Step Revenue Recognition Process (continued)
  • Step 5: Recognizing Revenue When a Performance Obligation Is Satisfied
    • The concept of control
    • Assessing when control transfers for each performance obligation
    • Transfer of control over time
    • Transfer of control at a point in time
    • Customer acceptance
    • Performance obligations satisfied over time – measuring performance
    • Case questions about transferring control


10:30 Networking Break

10:45 Disclosure Requirements and Implementation Challenges
  • Disclosure Requirements
    • Review of the new disclosure requirements – qualitative and quantitative
    • Disaggregated revenue
    • Contract cost disclosures
    • Presentation of uncollectible revenue
    • Judgments made in applying the standard
    • Transition disclosures
    • Thinking ahead to Critical Accounting Estimates disclosure
    • SEC reporting disclosure issues
    • Example disclosures from early adopters
  • ICFR Considerations
    • ICFR over the change process
    • ICFR for new processes, contracts and related issues
  • Implementation Challenges
    • Specific issues in applying the five-step model
    • Market communication challenges
    • Disclosure infrastructure
    • Tracking contract costs
    • Industry and product specific challenges
    • Other considerations
    • Managing the transition internally


12:00 Networking Luncheon

12:30 Implementation and Related Accounting Issues
  • Transition Decision Considerations
    • Pros and cons of the alternative methods
    • Market expectations
    • Making SAB 74 disclosures – growing in volume and more specifics near adoption date
    • Issues for the five-year summary in Form 10-K
    • Who should be involved in making the decision?
    • Survey of participants about expected adoption methods
  • Other recognition issues
    • Principal versus agent issues
    • License accounting
    • Specific issues, e.g. slotting fees, licenses and industry examples


2:45 Networking Break

3:00 Planning Your Transition
  • Changes to Your ICFR
    • Where will system modifications be necessary?
    • Managing the changes
  • Disclosure Infrastructure
    • System requirements for the new disclosures
    • Building your new accounting policy disclosure
    • Building appropriate processes and reviews
    • ICFR considerations for disclosures
  • Tracking Contract Costs
    • Which costs to track?
    • Policy election for one-year limit
    • System requirements
  • Industry and product specific challenges
    • Licenses – a right versus access
    • Performance obligations satisfied over time?
    • Interpretation of performance obligation definition in specific industries
    • Software related challenges
  • Managing the transition internally
    • Building the team
    • Impact on planning and budgeting
    • Impact on taxes
    • Impact on other areas, compensation arrangements, etc.
    • Internal communication and transition planning
  • Final Q&A and Wrap-up

 

4:30 Adjourn



Instructor(s)
George M. Wilson, MBA, CPA ~ Director, SEC Institute, a Division of PLI
Program Attorney(s)
Robin D. Goldstein ~ Director & Sr. Program Attorney, PLI
Las Vegas Seminar Location and Hotel Accommodations

Caesars Palace 3570 S Las Vegas Blvd, Las Vegas, NV 8910, (702) 731-7110.  A block of rooms has been reserved for this program.  Please call reservations at 1-866-227-5944 and mention Practising Law Institute and the name of the program.  The cutoff date for the preferred rate is August 24, 2018.

General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.


U.S. MCLE States

Alabama:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Alaska:  All SEC Institute products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Arizona:  SEC Institute’s workshops qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

California:  SEC Institute’s workshops qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All SEC Institute products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Connecticut: Effective January 1, 2017, all SEC Institute products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Delaware:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Florida:  All SEC Institute products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Georgia:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Hawaii:  All SEC Institute products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Idaho:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Illinois:  All SEC Institute products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Indiana:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Iowa:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Kansas:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live programs.

Kentucky:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Louisiana:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Maine:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Minnesota:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Mississippi:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Missouri:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Montana:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Nebraska:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Nevada:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New Hampshire:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New Jersey:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New Mexico:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

New York

Experienced Attorneys:  All SEC Institute products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Newly Admitted Attorneys: Select transitional SEC Institute workshops can be used to fulfill the requirements for newly admitted attorneys. Please check the “Credit Information” box on the program page to ensure credit is approved. All credit categories may be earned via transitional SEC Institute workshops.

North Carolina:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

North Dakota:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Ohio:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Oklahoma:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Oregon:  All SEC Institute products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Pennsylvania: SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Puerto Rico:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Rhode Island:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

South Carolina:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Tennessee:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Texas:  All SEC Institute products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Utah:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Vermont:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Virgin Islands:  All SEC Institute products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Virginia:  SEC Institute’s workshops qualify as “live interactive” credit. There is no limit to the number of credits an attorney can earn via live interactive programs.

Washington:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

West Virginia:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Wisconsin:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.

Wyoming:  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of credits an attorney can earn via workshops.


CPD Jurisdictions

British Columbia (CPD-BC):  SEC Institute’s workshops qualify as “real-time” credit. There is no limit to the number of credits an attorney can earn via real-time programs.

Ontario (CPD-ON):  SEC Institute’s workshops qualify as “interactive” credit. There is no limit to the number of credits an attorney can earn via interactive programs.

Quebec (CPD-QC):  SEC Institute’s workshops can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  SEC Institute’s workshops qualify as “live” credit. There is no limit to the number of points an attorney can earn via workshops.

United Kingdom (CPD-UK):  SEC Institute’s workshops can fulfill the United Kingdom’s CPD requirements.

Australia (CPD-AUS):  SEC Institute’s workshops qualify as “live” credit in all Australian jurisdictions. There is no limit to the number of credits an attorney can earn via workshops.


Other Credit Types

CPE Credit (NASBA): SEC Institute’s workshops qualify as “Group-Live delivery” credit.

IRS Continuing Education (IRS-CE):  SEC Institute’s workshops may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at plicredits@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  SEC Institute’s workshops may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at plicredits@pli.edu.

IAPP Continuing Privacy Credit (CPE):  SEC Institute’s workshops may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  SEC Institute’s workshops may fulfill HR credit requirements.

SHRM Recertification (SHRM):  SEC Institute’s workshops qualify as "instructor-led" credit. There is no limit to the number of credits an SHRM professional can earn via instructor-led programs.

Compliance Certification Board (CCB):  SEC Institute’s workshops qualify as “live” training events. There is no limit to the number of credits a candidate or certification holder can earn via workshops.

Certified Anti-Money Laundering Specialists (CAMS):  SEC Institute’s workshops may fulfill CAMS credit requirements.

New York State Social Worker Continuing Education (SW CPE):  SEC Institute’s workshops may fulfill SW CPE credit requirements.

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