In May 2014, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) issued their much-anticipated converged standard on revenue recognition. The FASB issued Accounting Standards Update (ASU) No. 2014-09, and the IASB issued International Financial Reporting Standard (IFRS) 15, both titled “Revenue From Contracts With Customers.” With only minor differences, the joint standard represents a single, global, principles-based revenue recognition model. The new guidance will affect almost every entity that recognizes revenues from contracts with customers, so financial executives with manufacturers and distributors should begin to gain an understanding of the new standard.
To be ready when the new guidance goes into effect, financial executives in the manufacturing and distribution (M&D) industry need to understand the potential ramifications of the coming changes and determine the best way to implement the guidance in their organizations. This webinar will provide an overview of issues they should consider so that their organizations are prepared to implement the standard when it goes into effect.
As a result of participating in this event, you should be able to:
- Recall and describe each of the five steps within the new revenue recognition model
- Identify and distinguish changes from current requirements and practice specific to the M&D industry
- Interpret how the new revenue recognition standard will affect your company and formulate your plan for implementation
Who Should Participate:
Chief financial officers, controllers, and accounting personnel
Presented By:
Scott Ransberger
Glen Beanland
Register for this webinar today.