Bloomberg BNA and Deloitte Revenue Recognition Conference: Navigating the World Anew


Administrations change, revenue recognition standards remain the same --it’s a narrative on which we could always depend. Yet, just months removed from the current administration’s transcendent path into history, we approach the most substantive evolution of revenue recognition standards this century. As Al Pacino’s character pronounces in the film The Recruit, “nothing is as it seems.”

On May 8, from 8:45 am to 5:00 pm, at the Newseum in Washington, D.C., premier accounting news leader Bloomberg BNA and accounting titan Deloitte will partner on an event to tackle the most pressing global and domestic accounting standard, ASC 606. The forum-based conference will include panelists from the SEC, Deloitte, Johnson & Johnson, Intel, the FASB, the PCAOB, among others.

We will feature keynote addresses from:

  • Sylvia Alicea, Professional Accounting Fellow at the Office of the Chief Accountant, SEC, and
  • Marc Siegel, Financial Accounting Standards Board, board member

 The panelists will tackle issues including: 

  • SEC Expectations and Observations
  • Hot Issues in Revenue Recognition
  • A Disclosure Roundtable: Challenges for Technology, Media, Telecommunications, and Life Sciences Sectors
  • Implementation Considerations and Operational Challenges
  • Coordinating with Your Auditors: A Roundtable

The conference arrives in a timely manner. The Chief Accountant of the SEC, Wes Bricker, expressed concern that some companies are lagging behind expectations as they review the new standard’s effect on everything from internal controls to information technology. In his speech at the Annual Life Sciences Accounting and Reporting Congress on March 27, 2017, he stated, “some companies need to make significant progress this year in their implementations.”

The 2017 “Revenue Recognition: The Way Forward” conference will address that concern and answer pertinent questions such as: 

  • What will be the focus of the SEC in relation to the new standard?
  • What implementation issues are still likely to present challenges and what steps should companies take to address them before year end?
  • How will IT play a role in revenue recognition adoption?

Audience members will have an opportunity to ask panelists questions through electronic submission. The panels will be moderated by Bloomberg BNA and Deloitte representatives and comprised of government and corporate officials serving as experts in their respective fields.

The conference is free and open to the public. For more information, or to sign up for the event, please click the following link:

https://www.bna.com/revenue-recognition-2017

By: Todd Cheney, CPA, Accounting Policy and Practice Editor

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