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New Accounting Guidance for Revenue: Big Change on the Horizon



Thursday, April 25, 2013
Product Code - TMW82
Speaker(s): Peter Bible, Chief Risk Officer at EisnerAmper LLP; Mark Crowley, National Office Director, Accounting Standards and Communication, Deloitte & Touche LLP; Kevyn Dillow, VP, Senior Accounting Analyst, Moody’s Enhanced Analytics Group; and Denise Lugo, Bloomberg BNA Staff Correspondent (Moderator)
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A new accounting standard, Revenue from Contracts with Customers, is expected to be issued mid-2013 and will result in the elimination of industry specific generally accepted accounting principles (GAAP) in the U.S. The guidance, developed by the Financial Accounting Standards Board jointly with the International Accounting Standards Board, is aimed at clarifying the principles for recognizing revenue consistently and transparently.

This practical webinar from Bloomberg BNA, New Accounting Guidance for Revenue: Big Change on the Horizon provides financial statement practitioners with an overview of the guidance and insights related to what companies should be doing now.

In 60 minutes, the panelists will cover:

  • An overview of the new accounting requirements, including an update of what will change
  • Implementation and transition (effective date, etc.)
  • What companies should expect once all of the industry-specific guidance is eliminated
  • Best practices for how to approach the changes
  • Disclosure-related issues
  • Other knock on impacts on business operations such as mergers and acquisitions, IPOs
  • Best approach toward avoiding landmines stemming from trying to adopt a new standard
  • Industries expected to be most impacted
  • What companies should be doing now
  • Other general insights on how to stay informed

Educational Objectives

  • Become conversant with the basic elements and expected changes of the new accounting provisions
  • Develop insight into potential knock-on issues that could impact your company’s ability to successfully transition

Who Should Attend: Controllers, CPAs, CFOs, CEOs, Accounting professors, Standard setters (FASB), Industry groups such as FEI, IMA, etc.

Prerequisite: None
Level: Intermediate
Delivery method: Group Interactive
CE Credit: 1

Peter Bible, Chief Risk Officer at EisnerAmper LLP; Mark Crowley, National Office Director, Accounting Standards and Communication, Deloitte & Touche LLP; Kevyn Dillow, VP, Senior Accounting Analyst, Moody’s Enhanced Analytics Group; and Denise Lugo, Bloomberg BNA Staff Correspondent (Moderator)

Peter Bible is EisnerAmper LLP’s Chief Risk Officer and also serves as the head of its Audit and Assurance Practice in New Jersey. Peter was appointed to the SEC Regulations Committee of the American Institute of Certified Public Accountants’ Center for Audit Quality (AICPA CAQ), which meets periodically with the staff of the SEC to discuss emerging technical accounting and reporting issues relating to SEC rules and regulations. He was also selected as a member of the AICPA CAQ’s Smaller Firm Task Force.

Peter’s 30 years of experience include worldwide accounting responsibility for two Fortune-sized corporations, and he has served as Audit Partner for Deloitte and Touche’s New York office where he was also Deputy Professional Practice Director for the Northeast Region and for the Collateralized Mortgage Obligations Group. He has deep expertise in U.S. GAAP, IASB and SEC rules as well as hands-on experience with divestitures, acquisitions, joint ventures, and IPOs.

Peter holds a B.A. in Business and Accounting, magna cum laude, from Otterbein College. He is a member of the American Institute of Certified Public Accountants. Professionally, Peter has served as Chairman, FEI Task Force on Business Combinations and as a member of several FASB and EITF Task Forces, the FEI Committee on Corporate Reporting, and the Joint International Group (JIG) of the FASB and the IASB.

Mark Crowley is the National Office Director, Accounting Standards and Communications, with
Deloitte & Touche LLP. He is a certified public accountant with over 20 years of experience in providing accounting and audit services. He currently leads the revenue recognition team (among others) in Deloitte’s Accounting Standards and Communications group in Wilton, Connecticut. He has broad experience in both public and private company accounting and reporting requirements, including mergers and acquisitions, dispositions, and initial public offerings.

Mark’s experience includes two years working in Deloitte’s Accounting Research Group which included research of technical accounting issues for a broad range of clients; co-authoring Deloitte & Touche LLP’s accounting manuals on revenue recognition; and serving as advisor to the Deloitte’s representative on the Emerging Issue Task Force (EITF).

Mark received a Business Administration degree in Accounting from Miami University and is a member of the American Institute of Certified Public Accountants.

Kevyn Dillow is a Vice President–Senior Accounting Analyst in Moody’s Enhanced Analytics Group. Kevyn joined Moody’s in 2011 from KPMG LLP’s Department of Professional Practice. There she was responsible for consulting with audit teams on accounting, financial reporting, and audit related issues. She contributed to firm publications on various accounting and financial reporting topics. During her 12 years in public accounting, Kevyn also spent time in Dallas and Cincinnati, where she was responsible for audits of clients in the consumer and industrial product industries. Kevyn is a CPA licensed in New York, Texas, and Ohio and holds a Business Administration degree in Accounting from the University of Cincinnati.