Implementing the New Revenue Recognition Standards Under ASC 606
Designing an Implementation Plan to Minimize Financial and Operational Upheaval
Recording of a 110-minute CPE webinar with Q&A
This webinar will provide corporate financial professionals with an overview of the accounting and tax implications of the pending changes in revenue recognition forthcoming with ASC 606. The panel will offer guidance on evaluating how the new standard will affect the most impacted industries, and detail the accounting and reporting implications of the new revenue standard.
Outline
- Background of existing revenue recognition requirements
- ASC 606 and the Principles-based approach
- Five-step revenue recognition model
- Critical steps to developing an implementation plan to prepare for new standard
- Commercial considerations and impact on operations
- Financial reporting impact
- Treatment of Deferred Tax Assets/Liabilities
Benefits
The panel will discuss these and other critical issues:
- Which industries will be most affected
- Specific accounting challenges and strategic decisions to be addressed in transitioning to the new standard
- What will be the financial statement impact and tax implications of the new standard
Faculty
George I. Victor, CPA, CGMA
Partner
Giambalvo Stalzer & Company
Mr. Victor oversees the firm’s A&A practice and is the Director of Quality Control. He is responsible... | Read More
Mr. Victor oversees the firm’s A&A practice and is the Director of Quality Control. He is responsible for formulating the firm’s accounting and auditing policies, monitoring compliance with professional regulatory standards, technical research, review of completed engagements, and oversight of the firm’s professional education program. He is also involved in implementing new accounting and auditing standards within the firm and in providing guidance on audit, accounting and financial reporting issues. He has extensive experience in providing accounting and advisory services to both privately held and SEC reporting companies, and has consulted CPA firms in the U.S. and abroad on areas of quality control, U.S. GAAP, and International Financial Reporting Standards.
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Robert Dyson, CPA
Quality Control Director
MBAF
Mr. Dyson has over 26 years of experience in ensuring compliance with professional standards by national and... | Read More
Mr. Dyson has over 26 years of experience in ensuring compliance with professional standards by national and regional accounting firms. He is responsible for the quality control functions at his firm, including final review of all assurance work, ensuring compliance with professional standards, and is a resource on procedural and assurance issues. His areas of expertise include non-profit organizations, broker dealers, real estate, and SEC. He authored and co-authored numerous articles in professional journals.
CloseMarta Alfonso, CPA/CFF, CIRA, JD
Management Advisory Principal
MBAF
Ms. Alfonso, trained as both an accountant and an attorney, has worked in a range of consulting and in-house corporate... | Read More
Ms. Alfonso, trained as both an accountant and an attorney, has worked in a range of consulting and in-house corporate roles since 1983. With a strong background in forensic accounting, insolvency and bankruptcy, turnarounds, litigation support and financial management, Marta offers clients extensive financial experience and a deep understanding of critical legal issues.
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