Webinar: AAFCPAs Revenue Recognition Guidance for Businesses

AAFCPAs provides an overview of new Revenue Recognition standards for Commercial Businesses. Listeners gain an understanding of how the new standard could impact revenue recognition and company policies, and what they should be doing now to prepare for adoption.

This revenue recognition webinar will cover:

An overview of the revenue recognition standard
Effective dates and transition guidance
The key provisions and impact areas by industry
Practical considerations and challenges to IT systems and processes
Lessons learned from early adopters
Guidance on where you should be in the process for a successful 2019 implementation, and action you should take now

We will provide time at the end of this session to allow attendees to Ask Members of our Revenue Recognition Task Force any burning questions.
Revenue Recognition: ASU 2014-09, Revenue from Contracts with Customers (Topic 606), is effective for public business entities and certain not-for-profit entities with annual reporting periods beginning after December 15, 2017. All other entities are required to adopt this by annual reporting periods beginning after December 15, 2018. Entities may now early adopt. This new standard may result in significant changes to the timing and amount of revenue recognized by an entity.

AAFCPAs’ Revenue Recognition Task Force

AAFCPAs’ Revenue Recognition Task Force includes senior level professionals who have been devoted to understanding and interpreting this ASU since the Financial Accounting Standards Board (FASB) announced the project. In this live, interactive educational webinar, we will provide guidance on the implementation of this complex new standard, including recommendations related to interpretation and situational judgments.

Technical Accounting Advisory

Understanding and implementing accounting standards can be complex, time-consuming, and often requires requisite skills and expertise not found on your internal finance team. AAFCPAs provides financial management assistance on these complex technical accounting issues, allowing clients to confidently apply the standard with greater efficiency and ease. Learn more about how AAFCPAs can help you implement the Revenue Recognition Standard.

About the Authors

Jeffrey Mead, CPA, CGMA

Jeffrey is a Partner and leader of AAFCPAs’ Commercial Practice, providing proactive audit/assurance, tax, and advisory solutions for closely-held and privately-owned businesses. His diverse commercial client base includes: professional service firms, technology companies, publishers, and manufacturers/distributors.

Nicole Zompa, CPA

Nicole is a partner in the commercial assurance practice of AAFCPAs. She specializes in advising diverse commercial clients including: early-stage venture-backed companies, family owned and private equity owned companies, and mid-sized, multinational SEC registrants. Nicole provides sound financial management advice to clients in the specialty areas of: financial reporting, mergers, acquisitions & Initial Public Offerings. Nicole is Chair of AAFCPAs’ Revenue Recognition Task Force, and her technical accounting experience includes revenue recognition implementation, as well as stock option & equity-based compensation plans and International Financial Reporting Standards.

Tracy LeMaire, CPA, MBA

Tracy is responsible for planning and executing financial statement attestations for privately-held commercial companies, including: manufacturing & distribution, physicians & private healthcare practices, transportation, retail, and professional services. She specializes in compilations, reviews, and financial statement audits in accordance with generally accepted auditing standards, and standards for accounting and review services. She is a member of AAFCPAs’ Employee Benefit Plan Audit practice specializing in ERISA audits, including: 401(k) and 403(b) defined benefit plans. Tracy also has extensive experience with the preparation and filing of partnership and corporate income tax returns. Tracy is a leader in AAFCPAs’ Compilation and Review practice, responsible for monitoring standards changes, and providing interpretive guidance and implementation strategies for all preparation, compilation and review engagements. Tracy’s proven advice ensures that businesses are complying with the latest accounting standards, in addition to gaining strategic insight from the financial information.