Revenue Recognition Accounting Update (ASC 606): Understand the Big Picture Concepts from an SEC Perspective - Two Day Online Conference - March 23rd-24th, 2021

Dublin, IRELAND


Dublin, Dec. 30, 2020 (GLOBE NEWSWIRE) -- The "Revenue Recognition Accounting Update (ASC 606)" conference has been added to ResearchAndMarkets.com's offering.

Get your annual revenue recognition update here! The new Revenue Recognition Standard made a significant impact on the way most companies recognize revenues. Best practices continue to evolve and there are a number of areas where companies are still searching for answers.

This conference assumes you are already familiar with the five-step model. It will address the latest developments in key areas, significant changes, scope, disclosure, and impacts. There will be plenty of examples and a detailed case study.

Learning Objectives:

  • Review the latest changes in key areas
  • Understand the big picture concepts from an SEC perspective
  • See where your counterparts are getting stuck

Agenda:

Agenda: DAY 1

8:45 - 10:55

  • Revenue Recognition: Past Issues and Emerging Trends
  • Review of the five-step model
  • Where people are getting stuck within the model
  • Principal/Agent determination
  • Customer options and material right
  • Identification of performance obligations
  • Licensing guidance applicability
  • Free trials
  • Contract modification
  • Determination of SSP
  • Measure of progress for overtime performance obligations

10:55 - 11:10

  • Break

11:10 - 12:40

  • Modifications, Repurchase Agreements, Disclosures and Revenue Automation

12:40 - 1:25

  • Lunch Break

1:25 - 2:45

  • Panel Discussion
  • The format of this session will be interactive and led by a moderator. Three industry panelists will briefly introduce their companies and discuss their revenue recognition hot topics. Questions will follow from the moderator and attendees.

2:45 - 3:00

  • Break

3:00 - 4:00

  • 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

Agenda: DAY 2

8:45 - 11:00

  • 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

11:00 - 11:15

  • Break

11:15 - 12:30

  • Tax Impact of the New Standard
  • Tax Principle for revenue recognition
  • How to discuss these issues with your tax team
  • Examples
  • Next steps

12:30 - 1:00

  • Lunch Break

1:00 - 2:00

  • Commissions
  • Adoption of ASC 340-40, Other Assets and Deferred Costs - Contracts With Customers
  • Provide a foundational understanding of identifying costs to be capitalized under ASC 340-40
  • Provide a foundational understanding of how to amortize incremental contract costs
  • Provide an overview of disclosure requirements

2:00 - 2:10

  • Break

2:10 - 3:30

  • Key Areas and Examples
  • Material right - renewal option
  • Sales to distributor
  • Principal vs Agent
  • Contract does not meet criteria to apply the new revenue model
  • Good or service is distinct in the context of the contract
  • Estimating the transaction price
  • Sales-or-usage based fees
  • When does control transfer?
  • Contractual Resale Restrictions - Transfer of Control
  • Incremental costs to obtain a contract
  • Costs to capitalize

3:30 - 3:35

  • Break

3:35 - 4:40

  • Updates and Implementation Issues
  • Upcoming Effective ASUs
  • Share-Payments to Customers
  • EITF Issues
  • Licensing of Intellectual Property
  • IP Renewals
  • Conversion Rights
  • Illustrative Examples

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

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

 

Contact Data