Implementing ASC 606 – Disclosures
The “Backlog” Disclosure
December 5, 2017
Please join us on Tuesday, December 5, 2017 from 1:00 to 2:00 PM (EST), when EITF Member Tony Sondhi, (author, instructor and one of the preeminent experts in the fields of revenue recognition and financial reporting risks), conducts our webcast on “backlog” disclosure requirements critical issues you need to know to successfully implement and subsequently apply ASC 606. the new revenue standard.
ASC 606 requires substantive new disclosures about performance obligations. Companies must disclose qualitative and quantitative information about the amount of the transaction price allocated to the remaining performance obligations including when those remaining amounts will be recognized as revenue. Unlike the existing Regulation S-K SEC disclosure which requires backlog disclosure for “firm” contracts, the ASC 606 disclosure applies only to valid, existing contracts. Our webcast will discuss these requirements, help you understand the requirements, illustrate the requirements using public company disclosures, and provide insights into data, documentation, and system needs.
You will learn about the following critical issues (among others) in this webcast:
- “Backlog” Disclosure Requirements – ASC 606,
- Implementation Challenges and System needs, and
- What early adopters and other companies have told us through their SAB 74 disclosures 2016 10K, 1Q, 2Q and 3Q, 2017 SEC filings
WHO SHOULD ATTEND
This webcast is critical for those managers responsible for, and all team members participating in, the implementation project, and the members of the financial reporting and investor relations team in your company. Staff accountants, internal and external auditors, financial reporting managers, controllers, CFOs, and financial analysts responsible for financial reporting, presentation, and analysis of issues at their companies as well as all users of financial statements will find this webcast useful.
OBJECTIVES AND PREREQUISITES
This webcast is designed to help you better understand the proposed reporting standard. Upon completing this webcast, you will:
- Learn about issues critical to a successful implementation,
- Improve your understanding of the issues and financial reporting risks related to accounting for revenue, and
- Receive information about the key implications of the issues raised in ASC 606.
Given the introductory nature of this webcast, there are no prerequisites to attending this webcast.
At No Charge
Earn 1 CPE Credit hour
A.C. Sondhi & Associates, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.