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
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