Revenue Recognition in 2014
Overview:
In a two hour live 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 live 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
Mark Grover is a senior managing director in the FTI Consulting Forensic Accounting and Advisory Services practice and is based …
Kent Metzroth is a vice president of finance who leads the global revenue recognition team at Veeco Instruments, a maker …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
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
2.0 CPE (Not eligible for QAS (On-demand) CPE credits)
Login Instructions:
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SPEAKERS' FIRMS:
About F T I Consulting
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/
About Veeco Instruments
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/