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Understanding the New Revenue Recognition Standard ASC 606: What You Need to Know

4/26/2018 11:30 AM - 1:30 AM (MT)

Type: In Person Event

Service: Audit and Accounting

Seats Remaining: 6

Event Contact:

Name: Amanda Flohr

Phone: 406.586.2386

Email: aflohr@wipfli.com

Event Location:

Wipfli's Bozeman Office

777 East Main Street, Suite 201

Bozeman

MT

59715


Is your organization ready for the new revenue recognition standard ASC 606?

You’re invited to join Wipfli associates for complimentary lunch and an educational presentation and discussion. Join us at 11:30 a.m. for networking and lunch. Presentation will begin promptly at noon and includes a 30-minute Q&A session. Seating is limited so register today to reserve your seat!

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, all organizations need to prepare now. Presentation highlights include:

  • Overview of ASC 606
  • Review of the new five step model of revenue recognition
  • Accounting for contract costs
  • Effective dates and timing your transition activities
  • Disclosure requirements
  • Tax considerations    

Speakers

Fred Goodworth
Fred V. Goodworth, CPA
Partner
View Profile

Event Location:

Wipfli's Bozeman Office

777 East Main Street, Suite 201

Bozeman

MT

59715