Topic 606 Tackling The Year 2 Post-Implementation Issues Webcast [TYR4]
Time: 08:30am-12:00pm
Subject:
Accounting & AuditingCredit Hours:
4.00Price:
Member: $150.00
Non-member: $225.00
Discussion Leader:
Gregory M. Clark, CPA
more info
Gregory M. Clark, CPA, CGMA, is a Principal with the Business Compliance & Controls Group (BCCG), an accounting and consulting firm specializing in technical audit and accounting training and consulting, employee benefit plan audits, compliance and training, internal controls consulting and training, and assessments, technical accounting consulting, and engagement quality control review services.
With more than 39 years of experience in the financial statement assurance and business compliance field, Greg has participated in all aspects of numerous attest engagements, including plan audit and business risk assessments, plan internal control assessment and design, plan regulatory compliance, financial reporting and quality control assessments, and administration contract compliance. BCCG provides technical accounting and auditing consulting services, continuing professional education services, quality control and effectiveness reviews, and compliance assistance to small businesses and CPA firms performing attest engagements.
Greg is a nationally known speaker on employee benefit plans, technical accounting and auditing, operational auditing and internal controls evaluations, integrated auditing, organizational risk assessments, and various other topics. In 2019, he received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills. Greg currently serves on the AICPA EBP Expert Panel, the AICPA Employee Benefit Plan Conference Program, the Georgia CPA Society Southeastern Accounting Show Task Force, and the Georgia Employee Benefit Plan Conference Committee. Greg has worked with accountants and auditors from throughout the world; many Fortune 500 companies; and numerous local, regional, and national CPA firms and small business clients as well as more than 46 state CPA society CPE organizations.
closeWebsite registration for this course closes on July 29, 2020. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.
Full Description
Topic 606: Tackling The Year Two Post-Implementation Issues Webcast (TYR4)July 30th, 2020
LATE REGISTRATION POLICY
For registrations received less than 21 days from the course date will be charged a late fee of $50 for each 8 hour course and $25 for each 4 hour course and $12.50 for each 2 hour course.
While the effective date of Topic 606 is behind us for both public and non-public entities, issues related to the application of the new revenue recognition guidance remain. Whether resulting from SEC comment letters, peer group analysis or from continued internal feedback, many entities are continuing to fine-tune their application of the new guidance beyond the year of implementation.
In this course, well review common feedback that public companies have received concerning their application of Topic 606 from the SEC, some of which has resulted in changes in their recording of revenue under Topic 606. Similarly, whether it is due to regulatory scrutiny or their own analysis, many
companies continue to tweak their financial statement disclosures related to topic 606. Lastly, in complying with the new guidance, other companies identified changes to their current business processes, including contract terminology, that they have either implemented or are in the process of
implementing, which will aid them in applying the new revenue guidance. In sum, though the new standard is now live there is still a lot of work to be done in order for companies to get to a steady state of operations under Topic 606. This course will provide insights on these continuing efforts so you
can be prepared to put Topic 606 compliance behind you once and for all.
Major Topics Covered:
-Common sources of SEC comments related to public adoption of Topic 606
-Disclosure examples for both public and private companies
-Common errors in the application of the Topic 606 guidance
-Operational issues and changes identified in the Topic 606 implementation process and how best to address these
Learning Objectives:
-Recall common implementation challenges in the adoption of Topic 606
-Identify common sources of SEC comments and their resolution related to Topic 606 implementation
-Identify best practices to improve the effective and efficient recording of revenue prospectively
-Identify opportunities to change business operation in order to achieve desired outcomes under Topic 606
Designed For: Accounting and auditing practitioners at all levels desiring to understand the FASBs new revenue recognition guidance
CPE Credits: 4, Accounting & Auditing
Level of Knowledge: Intermediate
Prerequisite: Experience in accounting and auditing
Acronym: TYR4
Discussion Leader: Gregory M. Clark, CPA
