New FASB Revenue Recognition Standards Actions You Should Take Now
8/15/2017 01:00 PM - 02:00 PM (CT)
Type: Live Webinar
Seats Remaining: 393
Name: Alexis Abrahamsen
Join this complimentary webinar hosted by Wipfli and Intacct.
In May 2014, the Financial Accounting Standards Board (FASB) issued the final standard on revenue from contracts with customers, Accounting Standards Codification (ASC) Topic 606. It has been described as one of the largest changes to GAAP in over a generation.
The new standard supersedes most current revenue recognition guidance and is designed to create consistency across industries, enrich financial disclosure, and enhance comparability for those relying on financial statements.
With required adoption dates starting as early as 2018 for public companies and 2019 for private companies, companies should begin their understanding of the unique considerations the standard will have on the industry and, more important, their current revenue recognition practices.
This webinar will provide an overview of the five-step revenue recognition process, adoption methods available, and other considerations such as:
- Over time vs. point in time recognition
- Variable consideration
- Contract costs
The webinar also will cover the steps needed to ensure an efficient, timely, and effective adoption, including: systems gap analysis, development of an adoption project plan and timeline, and review of software solutions.
Who should attend?
- Business owners
Colleen Varallo, Partner, Wipfli LLP
Colleen is an audit partner with more than 25 years of public accounting experience. She has been an integral part of a number of consulting and assurance engagements for start-up, midsized, and large multinational companies primarily in the software, insurance services, and manufacturing and distribution industries, as well as for business associations. Colleen serves as the partner in charge of Wipfli LLP’s revenue recognition initiative. Other leadership responsibilities have included leading the Northeast region’s audit and accounting practice and serving as a member of the firm’s Quality Assurance Committee.
Brian Dietz, Partner, Wipfli LLP
Brian is a partner in the financial and operational systems group within the technology consulting practice. He focuses on helping clients simplify their business challenges through technology solutions. Brian leverages his vast experience to help clients streamline their financial reporting and automate their business processes.
David Appel, Head of Software and SaaS Vertical, Intacct Corporation
David is Head of Intacct's Software and SaaS Vertical. Intacct is the world's largest independent provider of pure cloud financial solutions, and David works with companies on building and deploying the next-generation of customer-driven finance, so they can help their firms manage profit and growth as they scale. He previously worked in senior sales leadership positions at IBM, Bill.com, and NetSuite.
Learn more about Intacct.