This webcast will focus on the implications of the COVID-19 pandemic for variable revenue streams that are a result of performance awards or penalties.
COVID-19: Implications for Financial Reporting
Part 2 - Variable Revenue Streams
May 26th, 2020 -- 1PM EST
Please join us on Tuesday, May 26th, 2020 from 1:00 PM to 2:00 PM (EST), when Tony Sondhi, (author, consultant, investment advisor, former EITF Member and one of the preeminent experts in the fields of revenue recognition, Lessee and Lessor Accounting for Lease, Securitizations, Statement of Cash flows – reporting and analysis, and financial reporting risks), presents the second webcast of our new webcast series on the implications of the COVID-19 pandemic for financial reporting. Tony will discuss selected issues raised by the effects of COVID-19 on the recognition (timing), measurement (amount), and uncertainties (disclosures) of the events and transactions for reporting entities during the COVID-19 pandemic.
Each webcast in this series will address one or more issues you as a member of your company’s financial reporting team need to know about reporting events, contractual rights and obligations, and transactions. This webcast will focus on the implications of the COVID-19 pandemic for variable revenue streams that are a result of performance awards or penalties. This class of variable revenue streams enable the seller to earn (or avoid) the entire performance bonus (or penalty).
This webinar will be Part 2 in our series on treatments for variable revenue streams. Part 1 is available here, for free.
You will learn about the following critical concepts and their practical application (among others) in this webcast:
• What you need to know about the impact of the COVID-19 pandemic on variable revenue streams with performance rewards or penalties
• Whether your company needs review or change estimation, measurement, and other reporting requirements
• How to integrate recognition, measurement and disclosure requirements, and their implications for revenue reporting software
WHO SHOULD ATTEND:
This webcast is critical for those members of the financial reporting teams responsible for, and all team members participating in, revenue reporting at their firms, and the members of the financial reporting and investor relations team in your company. Staff accountants, internal and external auditors, financial reporting managers, controllers, CFOs, and financial analysts responsible for financial reporting, presentation, and analysis of issues at their companies as well as all users of financial statements will find this webcast useful.
OBJECTIVES AND PREREQUISITES
This webcast is designed to help you better understand the critical considerations of the recently issued and potential reporting requirements. Upon completing this webcast, you will:
1. Learn about revenue reporting
2. Improve your understanding of the financial reporting risks related to revenue transactions,
3. Obtain key takeaways from public and non-public company reporting perspectives
4. Understand potential implications for your firm.
Given the introductory nature of this webcast, there are no prerequisites to attending this webcast.
You can view Part 1 in this series here.
This is a replay of a Group Internet-Based course that was elligible for 1.0 CPE credit. CPE credit will not be awarded for watching the replay.
SOFTRAX is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
Refund policy: as this is a free event, no refunds will be required.
Ashwinpaul (Tony) C. Sondhi is the founder and President of A. C. Sondhi & Associates, LLC, a financial consulting, investment advisory, and executive training firm. He was a member of the Emerging Issues Task Force (EITF) of the Financial Accounting Standards Board (FASB) from 2003 through 2019. He is also a member of the Investor Advisory Group of the Public Company Accounting Oversight Board (PCAOB), the US Standards and Advocacy Advisory Council of CFA Institute, and the past Chairman and currently a member of the Corporate Disclosure Policy Council of CFA Institute. He is also an advisor to several U.S. and foreign companies.
His current consulting activities include implementation services related to the Revenue, Credit Losses, Customer’s capitalization of Implementation Costs (ASU 2018-15) and Lease Accounting standards, revenue reporting IT systems and software solutions, revenue recognition practices in the software and contracting industries, revenue arrangements with multiple performance obligations, consolidation policy issues related to variable interest entities, financial reporting requirements for foreign operations, securitizations, supply chain financing and transfers of financial assets (including revenue implications), credit analysis, and the analysis of company-wide financial reporting risks. Mr. Sondhi has also served as an expert witness on many financial reporting issues.
Ian Michelson manages marketing for SOFTRAX, and is primarily focused on coordinating events and webinars. Additionally, he is a frequent first point of contact for individuals seeking help with revenue recognition and complex billing.
Email for Inquiries: firstname.lastname@example.org