Revenue Recognition CPE Update: Evolving Issues (2-Day Online Conference: September 24-25, 2024)
Dublin, May 24, 2024 (GLOBE NEWSWIRE) -- The "Revenue Recognition CPE Update: Evolving Issues 2024" conference has been added to * ResearchAndMarkets.com's* offering.
Get your annual revenue recognition update here! ASC 606 made a significant impact on the way most companies recognize revenues. Best practices continue to evolve and there are a number of areas where companies are still searching for answers.
This conference assumes you are already familiar with the five-step model. It will address the latest developments in key areas, significant changes, scope, disclosure and impacts. There will be plenty of examples and a detailed case study.
*Learning Objectives*
· Review the latest changes in key areas
· Understand the big picture concepts from an SEC perspective
· See where your counterparts are getting stuck
*Agenda*
*DAY 1*
*8:45 - 11:00 - Revenue Recognition: Past Issues and Emerging Trends*
· Where people are getting stuck within the five-step model
· Price concessions
· Modifying contracts
· Customer options and material rights
· Performance obligations - software industry considerations
· Significant financing component
· Principal-versus-agent considerations
· Contract costs
· Onerous performance obligations/contracts
*11:00 - 11:15 - Break*
*11:15 - 12:45 - SEC & Revenue Recognition Perspectives*
· SEC Comment Letter Trends and Themes
· Accounting for usage-based fees
· Acquired Contract Assets/Liabilities from Business Combinations
*12:45 - 1:30 - Lunch Break*
*1:30 - 3:00 - Cases and Examples*
· Areas of significant complexity and judgment
· Top causes of restatements
· Operational and business model changes
· Interaction with other guidance
*3:00 - 3:15 - Break*
*3:15 - 4:30 - Impact on Internal Controls*
· Changes in Information and Related Data - Quality Needs
· ASC 606 Internal Control Considerations
· On-going ASC 606 Controls
· Management Review Controls
· Information Used in Controls (IUC)
· IT-General Control Considerations
· COVID-19 Impact on Internal Controls
· SOX Optimization & Modernization
*DAY 2*
*8:45 - 10:05 - Revenue Recognition: Fraud Issues*
· Context
· Drivers of Rev Rec fraud
· Rev Rec schemes and how they were perpetrated and what the ultimate outcomes were
· How to best manage and or mitigate the risk of rev rec fraud
*10:05 - 10:10 - Break*
*10:10 - 11:30 - Commissions: Deeper Dive*
· Adoption of ASC 340-40, Other Assets and Deferred Costs - Contracts With Customers
· Provide foundational understanding of identifying costs to be capitalized under ASC 340-40
· Provide foundational understanding of how to amortize incremental contract costs
· Provide an overview of disclosure requirements
*11:30 - 11:35 - Break*
*11:35 - 12:55 - Disclosures*
· Recent Trends
· Disaggregated revenue
· Reconciliation of contract balances
· Qualification of performance obligations
· Disclosure of significant assumptions
· Quantification of costs to complete a contract
*12:55 - 1:30 - Lunch Break*
*1:30 - 4:20 - ASC 606: Interactive discussion on a series of scenarios*
· Selected practice areas: Revenue Customer, Contract Duration, Enforceable Rights, Performance Obligations, Replacement Right, License Modifications, Measure of Progress, Contract Cost
· Group will use polling to work through each question
· Moderators from Connor Group will explain their recommended answers and explanations
For more information about this conference visit https://www.researchandmarkets.com/r/66x9l4
*About ResearchAndMarkets.com*
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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