Subscription and consumption billing are replacing old and adding new revenue streams to industries once constrained by milestone billing. Unfortunately, in many cases, subscription billing triggers some of the most complex areas of the ASC 606 & IFRS 15 revenue recognition guidance. For companies with ERP systems, subscription and usage-based billing has come with a loss in automation, both in billing and revenue recognition processes. Companies resort to customizations and spreadsheets to complete their revenue management processing. These methods strain employees, increase the likelihood of missed revenue, and risk errors, which could lead to comment letters, fines, and financial restatements.
In this webinar, SOFTRAX will examine subscription billing models in relation to the five-step requirements of ASC 606 / IFRS 15 and discuss this transition as an opportunity to transform revenue accounting to a substantially higher level of efficiency, even in the context of this increase in complexity.
The webinar will look at three areas in which subscription billing triggers ASC complexities, including real-world examples:
· Bundling and selling price / allocation
· Changing subscription commits and fees
· Usage and consumption billing
Event attendees will earn +1.0 CPE credit with participation and gain the opportunity to ask questions about the event’s topics and company challenges.
WHO SHOULD ATTEND:
Staff accountants, internal and external auditors, controllers, CFOs, CAOs, Directors of revenue recognition, billing, and revenue management, 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:
Designed for public and private companies, this webcast will help you to develop a better understanding of ASC 606 requirements for subscription billing as well as automation practices. This webinar is a follow-on to a webcast done in March 2022.
Click to Register.
This Group Internet-Based course is eligible for 1.0 CPE credit in the field of Accounting with full participation. A replay of the event will be available on-demand following it’s broadcast. Viewing the replay will not qualify for CPE credit.
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.
This abbreviated broadcast will not be eligible for CPE credit.