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Revenue Recognition in 2014 CLE

Revenue Recognition in 2014

Live Webcast Date: Thursday, November 06, 2014 from 3:00 pm to 5:00 pm (ET)
Tax, Accounting and Finance (CPE)Recording

Revenue Recognition in 2014

Join us for this Knowledge Group Revenue Recognition in 2014 Webinar. In a two hour webcast, a panel of key thought leaders and distinguished professionals will provide an in-depth discussion of the recently issued FASB Accounting Standard Update No. 2014-09: Revenue from Contracts with Customers (Topic 606). This new standard, which was the result of years of joint work between the FASB and IASB, has the potential to significantly impact revenue recognition for many companies in many industries. This webcast will help firms better assess the implications of the new revenue recognition standard for their company or their clients.

Key topics include:

  • ASU No. 2014-09: An Overview
  • Identifying the contract and the performance obligations of the contract
  • Determining the transaction price & allocating the transaction price to the performance obligations
  • Satisfying the performance obligations
  • Other accounting considerations
  • Presentation and disclosure considerations
  • Implementation considerations

Agenda

Mark Grover, Senior Managing Director
F T I Consulting

AND

Kent Metzroth, VP Finance, Global Revenue Recognition
Veeco Instruments

  • Principles and objectives of the new standard (Mark)
  • Overview of the new five-step revenue recognition model, including potential changes from current practice (Mark, with Kent providing preparer’s perspective re: each of the five steps)
  • Scope of the new standard (Mark) 
    • Step 1 – Identify the contract with a customer
    • Step 2 – Identify the performance obligations
    • Step 3 – Determine the transaction price
    • Step 4 – Allocate the transaction price to the performance obligations
    • Step 5 – Recognize revenue when (or as) the entity satisfies the performance obligations
  • Implementation considerations (Kent, with Mark providing commentary)
  • Presentation, Disclosure, Transition and Effective Date (Kent)
  • SEC reporting considerations (Kent, with Mark providing commentary)

Who Should Attend

  • Financial Executives/Officers
  • Corporate Heads (Executive Directors, Finance Directors, Managing Directors, Controllers, Analysts)
  • CPAs
  • Internal Audit
  • Internal Auditors
  • Consultants
  • Corporate Attorneys
  • Corporate Counsel
  • And other Related/Interested Professionals

Revenue Recognition in 2014

Mark Grover, Senior Managing Director
F T I Consulting

AND

Kent Metzroth, VP Finance, Global Revenue Recognition
Veeco Instruments

  • Principles and objectives of the new standard (Mark)
  • Overview of the new five-step revenue recognition model, including potential changes from current practice (Mark, with Kent providing preparer’s perspective re: each of the five steps)
  • Scope of the new standard (Mark) 
    • Step 1 – Identify the contract with a customer
    • Step 2 – Identify the performance obligations
    • Step 3 – Determine the transaction price
    • Step 4 – Allocate the transaction price to the performance obligations
    • Step 5 – Recognize revenue when (or as) the entity satisfies the performance obligations
  • Implementation considerations (Kent, with Mark providing commentary)
  • Presentation, Disclosure, Transition and Effective Date (Kent)
  • SEC reporting considerations (Kent, with Mark providing commentary)

Revenue Recognition in 2014

Revenue Recognition in 2014

Mark GroverSenior Managing DirectorF T I Consulting

Mark Grover is a senior managing director in the FTI Consulting Forensic Accounting and Advisory Services practice and is based in Boston. Mark’s experience includes a wide range of complex accounting advisory projects, forensic accounting investigations, and accounting-related business disputes, many of which have involved the assessment of revenue recognition in accordance with EITF’s 00-21 and 08-1, SAB 104, and SOP’s 97-2 and 81-1, as well as various other revenue recognition standards. He has served clients primarily in the high tech, manufacturing, life sciences and pharmaceutical industries and has extensive experience with both large multinational clients and emerging growth companies. Earlier in his career, Mark worked in the high-tech audit practices at Arthur Andersen and Ernst & Young.

Revenue Recognition in 2014

Kent MetzrothVP Finance, Global Revenue RecognitionVeeco Instruments

Kent Metzroth is a vice president of finance who leads the global revenue recognition team at Veeco Instruments, a maker of process equipment that enables the manufacture of LEDs.  Kent is responsible for all aspects of the company’s revenue recognition policies, procedures, accounting and training and is based in the company’s Plainview, NY office, about 20 miles outside of NYC.  Prior to Veeco, Kent spent thirteen years at CA Technologies (formerly, Computer Associates), a maker of IT management software, in roles of increasing responsibility including SEC reporting, pricing, FP&A, and revenue recognition.  Earlier in his career, Kent worked in public accounting, primarily with KPMG, where he earned his CPA and has an MBA from the New York University Stern School of Business.


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Revenue Recognition in 2014

Course Level:
   Intermediate

Advance Preparation:
   Print and review course materials

Method Of Presentation:
   On-demand Webcast

Prerequisite:
   NONE

Course Code:
   144707

NASBA Field of Study:
   Specialized Knowledge and Applications

NY Category of CLE Credit:
   Areas of Professional Practice

Total Credits:
    2.0 CLE

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About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 4,200 employees located in 26 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management, strategic communications and restructuring. The Company generated $1.65 billion in revenues during fiscal year 2013. More information can be found at www.fticonsulting.com.

Website: https://www.fticonsulting.com/

Veeco’s process equipment solutions enable the manufacture of LEDs, flexible OLED displays, solar cells, power electronics, hard drives, MEMS and wireless chips.  We are the market leader in LED, MBE, Ion Beam and other advanced thin film process technologies.  Our high performance systems drive innovation in energy efficiency, consumer electronics and network storage and allow our customers to maximize productivity and achieve lower cost of ownership.

Website: https://www.veeco.com/

Mark Grover is a senior managing director in the FTI Consulting Forensic Accounting and Advisory Services practice and is based in Boston. Mark’s experience includes a wide range of complex accounting advisory projects, forensic accounting investigations, and accounting-related business disputes, many of which have involved the assessment of revenue recognition in accordance with EITF’s 00-21 and 08-1, SAB 104, and SOP’s 97-2 and 81-1, as well as various other revenue recognition standards. He has served clients primarily in the high tech, manufacturing, life sciences and pharmaceutical industries and has extensive experience with both large multinational clients and emerging growth companies. Earlier in his career, Mark worked in the high-tech audit practices at Arthur Andersen and Ernst & Young.

Kent Metzroth is a vice president of finance who leads the global revenue recognition team at Veeco Instruments, a maker of process equipment that enables the manufacture of LEDs.  Kent is responsible for all aspects of the company’s revenue recognition policies, procedures, accounting and training and is based in the company’s Plainview, NY office, about 20 miles outside of NYC.  Prior to Veeco, Kent spent thirteen years at CA Technologies (formerly, Computer Associates), a maker of IT management software, in roles of increasing responsibility including SEC reporting, pricing, FP&A, and revenue recognition.  Earlier in his career, Kent worked in public accounting, primarily with KPMG, where he earned his CPA and has an MBA from the New York University Stern School of Business.

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