Companies are finding complexities, unforeseen issues and heavy resource needs as they work through implementation of the new revenue recognition standard, ASC 606. Understanding the requirements and changes your organization may need to make is critical in planning a successful implementation of the new accounting standard.
Join Baker Tilly and Softrax for a discussion of the challenges companies are facing and the surprises popping up along the road to implementation.
This webinar will prepare you to do the following:
- Overview of the basic concepts of ASC 606
- Understand issues with performance obligations and contract modifications
- Learn and discuss transition methods
During this webinar we will identify the top 5 implementation challenges of the new ASC 606 standard that we believe organizations will need to consider in order to successfully adopt the new guidelines.
- Internal control considerations
- New revenue disclosure requirements
- Concept and impact of revenue allocation
- Timing and the nature of adoption
- Recognizing revenue in advance of billing
Who should attend
This webinar is designed to help accounting and financial executives from companies desiring to comply with FASB’s ASC 606 Revenue Recognition Standard.
The requirements in the new standard may present complex challenges for many companies in various industries. Industries that may benefit from this webinar, but not limited to
- Manufacturing and distribution
- Software and technology
- Construction and real estate
- Energy and utilities, including telecommunications
Meet the presenters
Phil Santarelli, CPA
Information about CPE eligibility
There are no prerequisites for this webinar, and advance preparation is not required. There is no cost to attend this webinar.
CPE credit: One (1) hour total credit
Field of study: Accounting (GAS80)