Revenue recognition remains to be a topic of perennial interest in 2012 as it affects almost all companies. In an effort to resolve incongruent accounting standards and practices on revenue recognition, FASB and IASB have proposed new revenue recognition standards through an Exposure Draft in 2011. These new standards, if enacted, would result in the most broad reaching and fundamental changes to the recognition of revenue in businesses moving forward.
The Knowledge Group is producing a two-hour LIVE webcast to help companies gain a complete understanding of the nuts and bolts of the proposed standards and its potential impact on their businesses. Changes to Revenue Recognition in 2012 is a must attend event for accountants, finance executives and managers, corporate attorneys and other related professionals.
Securing Trade Secrets and Intellectual Property Against CyberattackThomas LaPointe
The rise in cyber threats is putting companies at risk of losing trade secrets and other intellectual property assets that are integral to competitive edge, revenues and reputation. Many companies, however, are unsure about how to shore up their IP and trade secret protection programs to thwart potential risks and losses.
In this two-hour LIVE Webcast, a panel of distinguished professionals and thought leaders organized by The Knowledge Group will help the audience understand the important aspects of Securing Trade Secrets and Intellectual Property Against Cyberattack. They will provide an in-depth discussion of the critical issues and best practices with respect to this noteworthy topic. Speakers will also share helpful tips in developing and implementing data security programs while ensuring compliance with applicable laws.
Some of the major topics that will be covered in this course are:
IP and Trade Secrets Protection
Key Challenges and Vulnerabilities
Data Security Policies
Risk Identification and Mitigation
Best Regulatory Remedies
To view the webcast go to this link: https://youtu.be/neZTheov8LU
To learn more about the webcast please visit our website: http://theknowledgegroup.org
National Association of Realtors 2013 Member ProfileRicardo Cobos
The document is the 2013 Member Profile report from the National Association of REALTORS®. It provides the following key points:
1) The typical REALTOR® earned $43,500 in 2012, up from $34,900 in 2011. They had 12 transaction sides in 2012 compared to 10 in 2011.
2) Property managers managed a median of 49 properties in 2012, the highest number on record, reflecting the strong rental market.
3) Eight in ten REALTORS® are certain they will remain in the business for two more years, a rise from 76% in the previous year's report.
The document summarizes a panel discussion on trends and transactions in the hemp industry. The panelists include experts from Dragon Realty Capital, Wilson Elser law firm, SingerLewak valuation firm, and FTI Consulting. They will discuss topics such as the hemp market overview, legal and regulatory issues, investment opportunities, valuation trends, due diligence, brand building, and industry outlook.
Jyotin Gambhir Handled Audit And Enterprise Risk Services At Deloitte janetlouis
Jyotin Gambhir joined Deloitte, which is a popular audit, financial advisory, consulting, and risk management company and served as a manager for almost six years and offered risk, security, and privacy consulting services for Deloitte.
Closing the talent gap: Five ways government and business can team up to resk...Deloitte United States
1) The document discusses ways for government and businesses to work together to reskill workers as jobs are changing rapidly due to new technologies.
2) It suggests focusing training programs on specific job needs, expanding apprenticeships to new fields, and assisting lower-skilled workers.
3) The government could play a role connecting employers to job seekers and facilitating partnerships between education and industry.
Digital assets as an asset class has matured with increasing rates of adoption among retail and institutional investors. As custodians engage, they are facing unique complexities across many regulatory bodies, new varieties of audit and controls considerations and evolving risk frameworks. This paper, starting on page 4, explores important considerations for custodians of digital assets as explained from the various leaders within Deloitte’s digital asset practice.
Hedge accounting: Simplifying the accounting for hedging activitiesDeloitte United States
The recent Deloitte webcast, “Hedge accounting: Simplifying the accounting for hedging activities,” polled more than 3,000 business professionals about their organizations’ implementation plans for the new hedge accounting rules issued by the FASB. These slides highlight the findings from the poll.
84.6% of responding C-suite and other executive feel confident in their organizations’ abilities to manage cash and liquidity, according to a Deloitte poll conducted on Oct. 15, 2020. But as uncertainty persists, it’s important for organizations to continue to improve and strengthen their cash and liquidity management abilities so as not to provide a false sense of security.
Securing Trade Secrets and Intellectual Property Against CyberattackThomas LaPointe
The rise in cyber threats is putting companies at risk of losing trade secrets and other intellectual property assets that are integral to competitive edge, revenues and reputation. Many companies, however, are unsure about how to shore up their IP and trade secret protection programs to thwart potential risks and losses.
In this two-hour LIVE Webcast, a panel of distinguished professionals and thought leaders organized by The Knowledge Group will help the audience understand the important aspects of Securing Trade Secrets and Intellectual Property Against Cyberattack. They will provide an in-depth discussion of the critical issues and best practices with respect to this noteworthy topic. Speakers will also share helpful tips in developing and implementing data security programs while ensuring compliance with applicable laws.
Some of the major topics that will be covered in this course are:
IP and Trade Secrets Protection
Key Challenges and Vulnerabilities
Data Security Policies
Risk Identification and Mitigation
Best Regulatory Remedies
To view the webcast go to this link: https://youtu.be/neZTheov8LU
To learn more about the webcast please visit our website: http://theknowledgegroup.org
National Association of Realtors 2013 Member ProfileRicardo Cobos
The document is the 2013 Member Profile report from the National Association of REALTORS®. It provides the following key points:
1) The typical REALTOR® earned $43,500 in 2012, up from $34,900 in 2011. They had 12 transaction sides in 2012 compared to 10 in 2011.
2) Property managers managed a median of 49 properties in 2012, the highest number on record, reflecting the strong rental market.
3) Eight in ten REALTORS® are certain they will remain in the business for two more years, a rise from 76% in the previous year's report.
The document summarizes a panel discussion on trends and transactions in the hemp industry. The panelists include experts from Dragon Realty Capital, Wilson Elser law firm, SingerLewak valuation firm, and FTI Consulting. They will discuss topics such as the hemp market overview, legal and regulatory issues, investment opportunities, valuation trends, due diligence, brand building, and industry outlook.
Jyotin Gambhir Handled Audit And Enterprise Risk Services At Deloitte janetlouis
Jyotin Gambhir joined Deloitte, which is a popular audit, financial advisory, consulting, and risk management company and served as a manager for almost six years and offered risk, security, and privacy consulting services for Deloitte.
Closing the talent gap: Five ways government and business can team up to resk...Deloitte United States
1) The document discusses ways for government and businesses to work together to reskill workers as jobs are changing rapidly due to new technologies.
2) It suggests focusing training programs on specific job needs, expanding apprenticeships to new fields, and assisting lower-skilled workers.
3) The government could play a role connecting employers to job seekers and facilitating partnerships between education and industry.
Digital assets as an asset class has matured with increasing rates of adoption among retail and institutional investors. As custodians engage, they are facing unique complexities across many regulatory bodies, new varieties of audit and controls considerations and evolving risk frameworks. This paper, starting on page 4, explores important considerations for custodians of digital assets as explained from the various leaders within Deloitte’s digital asset practice.
Hedge accounting: Simplifying the accounting for hedging activitiesDeloitte United States
The recent Deloitte webcast, “Hedge accounting: Simplifying the accounting for hedging activities,” polled more than 3,000 business professionals about their organizations’ implementation plans for the new hedge accounting rules issued by the FASB. These slides highlight the findings from the poll.
84.6% of responding C-suite and other executive feel confident in their organizations’ abilities to manage cash and liquidity, according to a Deloitte poll conducted on Oct. 15, 2020. But as uncertainty persists, it’s important for organizations to continue to improve and strengthen their cash and liquidity management abilities so as not to provide a false sense of security.
Expert Webcast 7.10.2014: Acquisition Due DiligenceExpert Webcast
DESCRIPTION:
A team of experts comprised of senior investments bankers, a veteran m&a lawyer, a leading CPA and a due diligence and management consultant will discuss effective acquisition due diligence strategies leading to a successful transaction and post-transaction integration.
MAJOR TOPICS:
Early planning and acquirer goals
Strategic due diligence
Business, legal and financial due diligence
Management audits
Quality of earnings
Due diligence team, plan and process
Corporate culture and communications
What the acquirers are looking for
Post-transaction integration
This document contains a sign up form for LinkedIn where a user can create a new account by providing their first name, last name, email address and creating a password of 6 or more characters. By clicking join now, the user agrees to LinkedIn's user agreement, privacy policy and cookie policy. It also provides options to find colleagues by name or browse the member directory alphabetically by country.
If either party to the acquisition process is a Securities and Exchange Commission (SEC) registrant, incremental information may be required. And for CFOs, it’s not only a matter of what, but when.
EU General Data Protection Regulation: Practical steps for compliance, third ...Deloitte United States
The European Union (EU) General Data Protection Regulation (GDPR) took effect May 25, 2018, yet only 34.5 percent of nearly 500 professionals involved in GDPR compliance efforts say their organizations can defensibly demonstrate compliance with the new data privacy rules today, according to a July 2018 Deloitte poll. Further, only 13.6 percent of respondents are confident that their organizations know what data third parties have and are leveraging artificial intelligence (AI) and other technologies to analyze and manage third-party contracts for GDPR compliance. To learn more, go to: https://www2.deloitte.com/us/en/pages/about-deloitte/articles/press-releases/few-organizations-are-gdpr-compliant-eu-data-privacy-contract-management.html
The document summarizes an upcoming meeting of the FEI Colorado chapter that will include professional development sessions, networking, and a dinner presentation on mergers and acquisitions. It provides details on the date, location, agenda, registration requirements, and sessions for the monthly meeting in January 2015, including topics on tax updates and traits of successful Colorado companies. Advance registration is required by the Monday before the meeting.
The document discusses how law firms are evolving to attract and retain top talent in a changing legal landscape. Key points:
- Demographics are shifting as younger generations enter the workforce, seeking better work-life balance. Law firms must adapt workplace strategies to attract this talent.
- Traditional tenure-based models are being replaced by more team-based, collaborative work and greater use of contract attorneys. This is changing the composition of legal teams.
- Technology is enabling new ways of working, like increased electronic documentation and remote work. However, the physical office remains important for collaboration and culture.
- Effective planning balances people, processes, and physical space. Law firms are experimenting with more open floor plans,
Is Your Client Tax-smart Ready to Become a Legal Permanent Resident?Thomas LaPointe
Many non-resident alien individuals from around the world hope to invest and reside in the United States. The U.S., which is one of the few countries that taxes its citizens and residents based upon their worldwide income, also taxes non-resident aliens on income derived from within the U.S., including income from a U.S. trade or business and income from certain investments in U.S. property. Very often, immigrating residents are unfamiliar with the country’s tax laws, including what they will face upon obtaining their resident status. This lack of knowledge often leads immigrants to pay unnecessary taxes and exposes them to greater liabilities.
In a two-hour LIVE Webcast, a panel of key thought leaders and practitioners assembled by The Knowledge Group will offer an overview and discussion of pre-immigration tax planning. Join us to hear some of the country’s leading attorneys and skilled tax professionals give advice on federal tax policies, regulations, and requirements for residence applicants. Speakers will also provide a checklist of the best practices to avoid common tax problems.
Some of the major topics that will be covered in this course are:
Immigration and Non-Immigration Options for Highly Skilled Workers and Wealthy International Investors Leading to Tax Planning
U.S. Federal Government Major Taxes
Pre-Immigration Tax Planning: An Overview
Planning to Reduce Future U.S. Income Tax
Planning to Reduce Future U.S. Estate & Gift Tax
Possible Sanctions for Non-Compliance
To view the webcast go to this link:
To learn more about the webcast please visit our website: http://theknowledgegroup.org
Few Government Professionals Feel Prepared to Comply with Lease Accounting St...Deloitte United States
According to a June 2019 Deloitte poll, few professionals in U.S. government entities feel prepared to comply (11.4% of federal agency employees and 12.4% of state or local government or higher education institution employees) with the Federal Accounting Standards Advisory Board’s (FASAB) and Governmental Accounting Standards Board’s (GASB) respective lease accounting standards.
Deloitte is one of the "Big Four" accounting firms and the largest professional services network in the world. It has operational headquarters in New York City and provides services in over 150 countries. Deloitte has over 100 offices in the United States, 29 offices in the United Kingdom, and over 500 offices globally. Though Deloitte does not have a direct presence in Bangladesh, three of the "Big Four" firms have member firms operating in the country. Deloitte generates revenue from audit, consulting, risk advisory, and tax services and employs over 300,000 professionals worldwide.
The panel of experts comprised of a senior corporate lawyer, an international tax expert, a litigator and arbitration expert, and senior investment bankers will discuss
the outlook, deal structures, financing and execution, as well as dispute prevention and resolution in Emerging Markets Cross-Border Transactions.
Major Topics:
The global outlook for cross-border investment and M&A activity in the emerging markets
Legal risks particular to investments in emerging markets; specifically in technology and natural resources
Types and indicia of risk
Transaction objectives and structures
Dispute resolution mechanisms
Economic risks particular to cross-border and emerging market investments
Raising capital for cross border investment and M&A: explaining the risks to potential investors
Successful deal execution
Cultural considerations
Case studies
Working capital management a top priority for many executives in year aheadDeloitte United States
Nearly half of C-suite and other executives say that managing working capital will be a high priority for their organizations in the year ahead with 33.6% keeping it a top priority and 14.7% making it a higher priority, according to a Deloitte poll .
The panel of experts comprised of a senior corporate lawyer, an international tax expert, a litigator and arbitration expert, and senior investment bankers will discuss
the outlook, deal structures, financing and execution, as well as dispute prevention and resolution in Emerging Markets Cross-Border Transactions.
Major Topics:
The global outlook for cross-border investment and M&A activity in the emerging markets
Legal risks particular to investments in emerging markets; specifically in technology and natural resources
Types and indicia of risk
Transaction objectives and structures
Dispute resolution mechanisms
Economic risks particular to cross-border and emerging market investments
Raising capital for cross border investment and M&A: explaining the risks to potential investors
Successful deal execution
Cultural considerations
Case studies
The document outlines an expert panel discussion on exit strategies for closely held companies, including forming an advisory team, assessing company characteristics, financial considerations, owner personal goals, and potential problems to address such as management roles, employment agreements, and outstanding legal issues. The panelists include investment bankers, attorneys, and wealth advisors who will discuss planning for a successful exit.
Panel of experts comprised of a leading sports and media lawyer, senior investment bankers, a sports and media valuation expert, a seasoned media executive and a top family lawyer will address the dynamics and structure of Sports & Media M&A and Investment.
MAJOR TOPICS:
Global expansion, new revenue streams and other deal drivers
U.S. v. foreign markets
Brand building / becoming a global franchise
Sports and social media
Media agreements
Ownership: individuals, private equity, public markets
Valuation parameters
Sale of sports teams driven or hampered by divorce
Outlook for the future
Current & Emerging Accounting Developments presented by McGladrey - AICPA Nat...Brian Marshall
McGladrey & Pullen Presentation (Rick Day & Brian Marshall) on Current & Emerging Accounting Developments at the June 2011 AICPA National Audit Committee Forum
2014 AICPA CFO Conference - Accounting Trends and Update Brian Marshall
This document provides summaries of topics discussed at an accounting trends and updates event for CFOs hosted by McGladrey LLP. It includes biographies of two partners at McGladrey, Rick Day and Brian Marshall. The bulk of the document summarizes discussions on recent and upcoming changes from the Private Company Council and FASB, including new standards and alternatives for private companies. Joint projects between FASB and IASB like revenue recognition, leases, and financial instruments are also summarized.
We started by discussing the question of whether there are human zoos. We looked at pictures and developed ideas, comparing humans and animals to ask if we are like animals or animals are like us. We took notes from programs to help answer sub-questions. I learned facts about rhinos, like female rhinos being more relaxed than males and thin rhino skin. Now I am confident in my opinion that human zoos exist because jails are like zoos where people cannot leave and others visit.
This document provides information about the Sport, Lifestyle & Recreation (SLR) subject offered by the PDHPE faculty. It outlines that SLR is a non-ATAR subject that can be taken as a 1 Unit or 2 Unit course, with varying time commitments each week. The document discusses potential topics covered in SLR and provides examples of career pathways and university opportunities that are relevant for students who study this subject.
FASB/IASB Joint Projects - presented by McGladrey at 2011 NYSSCPA Private Com...Brian Marshall
The document discusses the progress of several joint projects between the FASB and IASB, including revenue recognition, financial instruments, and leases. For revenue recognition, the boards have completed redeliberations and are determining if re-exposure is needed before finalizing the new standard. For financial instruments, the boards continue work on impairment, hedge accounting, and other issues. For leases, the boards are redeliberating the proposed model to require balance sheet recognition of lease assets and liabilities for most leases.
Latest issues in revenue recognition - presented by McGladrey at December 201...Brian Marshall
The document summarizes recent changes to accounting standards regarding revenue recognition. It discusses the FASB's revised revenue recognition Exposure Draft, which proposes a principles-based standard using a five-step model to recognize revenue when control of goods or services is transferred. It also summarizes the updated guidance for multiple deliverable arrangements in ASU 2009-13, which provides more flexibility in separating deliverables and allocating arrangement consideration.
McGladrey Revised Revenue Recognition Exposure Draft Webcast – What Does It M...Brian Marshall
The FASB and IASB recently issued a revised exposure draft on revenue recognition after almost a year of redeliberations, with significant changes to the guidance originally proposed.
In addition to covering the revised proposal's major provisions, the webcast (at http://mcgladrey.com/images/media/ws_revised_revenue_recognition.wmv) addressed the approach required to comply with the core principle of the revised proposal including:
- Identify the contract with a customer
- Identify the separate performance obligations in the contract
- Determine the transaction price
- Allocate the transaction price to the separate performance obligations
- Recognize revenue when (or as) each performance obligation is satisfied
McGladrey presentation at June 2012 EEI Public Filers Symposium - Update on J...Brian Marshall
Update on Joint Revenue Recognition Project
Speaker - Brian Marshall
This session focuses on the FASB and IASB's second joint exposure draft on Revenue Recognition issued in November 2011, a key step in the Board's efforts to finalize converged guidance.
Expert Webcast 7.10.2014: Acquisition Due DiligenceExpert Webcast
DESCRIPTION:
A team of experts comprised of senior investments bankers, a veteran m&a lawyer, a leading CPA and a due diligence and management consultant will discuss effective acquisition due diligence strategies leading to a successful transaction and post-transaction integration.
MAJOR TOPICS:
Early planning and acquirer goals
Strategic due diligence
Business, legal and financial due diligence
Management audits
Quality of earnings
Due diligence team, plan and process
Corporate culture and communications
What the acquirers are looking for
Post-transaction integration
This document contains a sign up form for LinkedIn where a user can create a new account by providing their first name, last name, email address and creating a password of 6 or more characters. By clicking join now, the user agrees to LinkedIn's user agreement, privacy policy and cookie policy. It also provides options to find colleagues by name or browse the member directory alphabetically by country.
If either party to the acquisition process is a Securities and Exchange Commission (SEC) registrant, incremental information may be required. And for CFOs, it’s not only a matter of what, but when.
EU General Data Protection Regulation: Practical steps for compliance, third ...Deloitte United States
The European Union (EU) General Data Protection Regulation (GDPR) took effect May 25, 2018, yet only 34.5 percent of nearly 500 professionals involved in GDPR compliance efforts say their organizations can defensibly demonstrate compliance with the new data privacy rules today, according to a July 2018 Deloitte poll. Further, only 13.6 percent of respondents are confident that their organizations know what data third parties have and are leveraging artificial intelligence (AI) and other technologies to analyze and manage third-party contracts for GDPR compliance. To learn more, go to: https://www2.deloitte.com/us/en/pages/about-deloitte/articles/press-releases/few-organizations-are-gdpr-compliant-eu-data-privacy-contract-management.html
The document summarizes an upcoming meeting of the FEI Colorado chapter that will include professional development sessions, networking, and a dinner presentation on mergers and acquisitions. It provides details on the date, location, agenda, registration requirements, and sessions for the monthly meeting in January 2015, including topics on tax updates and traits of successful Colorado companies. Advance registration is required by the Monday before the meeting.
The document discusses how law firms are evolving to attract and retain top talent in a changing legal landscape. Key points:
- Demographics are shifting as younger generations enter the workforce, seeking better work-life balance. Law firms must adapt workplace strategies to attract this talent.
- Traditional tenure-based models are being replaced by more team-based, collaborative work and greater use of contract attorneys. This is changing the composition of legal teams.
- Technology is enabling new ways of working, like increased electronic documentation and remote work. However, the physical office remains important for collaboration and culture.
- Effective planning balances people, processes, and physical space. Law firms are experimenting with more open floor plans,
Is Your Client Tax-smart Ready to Become a Legal Permanent Resident?Thomas LaPointe
Many non-resident alien individuals from around the world hope to invest and reside in the United States. The U.S., which is one of the few countries that taxes its citizens and residents based upon their worldwide income, also taxes non-resident aliens on income derived from within the U.S., including income from a U.S. trade or business and income from certain investments in U.S. property. Very often, immigrating residents are unfamiliar with the country’s tax laws, including what they will face upon obtaining their resident status. This lack of knowledge often leads immigrants to pay unnecessary taxes and exposes them to greater liabilities.
In a two-hour LIVE Webcast, a panel of key thought leaders and practitioners assembled by The Knowledge Group will offer an overview and discussion of pre-immigration tax planning. Join us to hear some of the country’s leading attorneys and skilled tax professionals give advice on federal tax policies, regulations, and requirements for residence applicants. Speakers will also provide a checklist of the best practices to avoid common tax problems.
Some of the major topics that will be covered in this course are:
Immigration and Non-Immigration Options for Highly Skilled Workers and Wealthy International Investors Leading to Tax Planning
U.S. Federal Government Major Taxes
Pre-Immigration Tax Planning: An Overview
Planning to Reduce Future U.S. Income Tax
Planning to Reduce Future U.S. Estate & Gift Tax
Possible Sanctions for Non-Compliance
To view the webcast go to this link:
To learn more about the webcast please visit our website: http://theknowledgegroup.org
Few Government Professionals Feel Prepared to Comply with Lease Accounting St...Deloitte United States
According to a June 2019 Deloitte poll, few professionals in U.S. government entities feel prepared to comply (11.4% of federal agency employees and 12.4% of state or local government or higher education institution employees) with the Federal Accounting Standards Advisory Board’s (FASAB) and Governmental Accounting Standards Board’s (GASB) respective lease accounting standards.
Deloitte is one of the "Big Four" accounting firms and the largest professional services network in the world. It has operational headquarters in New York City and provides services in over 150 countries. Deloitte has over 100 offices in the United States, 29 offices in the United Kingdom, and over 500 offices globally. Though Deloitte does not have a direct presence in Bangladesh, three of the "Big Four" firms have member firms operating in the country. Deloitte generates revenue from audit, consulting, risk advisory, and tax services and employs over 300,000 professionals worldwide.
The panel of experts comprised of a senior corporate lawyer, an international tax expert, a litigator and arbitration expert, and senior investment bankers will discuss
the outlook, deal structures, financing and execution, as well as dispute prevention and resolution in Emerging Markets Cross-Border Transactions.
Major Topics:
The global outlook for cross-border investment and M&A activity in the emerging markets
Legal risks particular to investments in emerging markets; specifically in technology and natural resources
Types and indicia of risk
Transaction objectives and structures
Dispute resolution mechanisms
Economic risks particular to cross-border and emerging market investments
Raising capital for cross border investment and M&A: explaining the risks to potential investors
Successful deal execution
Cultural considerations
Case studies
Working capital management a top priority for many executives in year aheadDeloitte United States
Nearly half of C-suite and other executives say that managing working capital will be a high priority for their organizations in the year ahead with 33.6% keeping it a top priority and 14.7% making it a higher priority, according to a Deloitte poll .
The panel of experts comprised of a senior corporate lawyer, an international tax expert, a litigator and arbitration expert, and senior investment bankers will discuss
the outlook, deal structures, financing and execution, as well as dispute prevention and resolution in Emerging Markets Cross-Border Transactions.
Major Topics:
The global outlook for cross-border investment and M&A activity in the emerging markets
Legal risks particular to investments in emerging markets; specifically in technology and natural resources
Types and indicia of risk
Transaction objectives and structures
Dispute resolution mechanisms
Economic risks particular to cross-border and emerging market investments
Raising capital for cross border investment and M&A: explaining the risks to potential investors
Successful deal execution
Cultural considerations
Case studies
The document outlines an expert panel discussion on exit strategies for closely held companies, including forming an advisory team, assessing company characteristics, financial considerations, owner personal goals, and potential problems to address such as management roles, employment agreements, and outstanding legal issues. The panelists include investment bankers, attorneys, and wealth advisors who will discuss planning for a successful exit.
Panel of experts comprised of a leading sports and media lawyer, senior investment bankers, a sports and media valuation expert, a seasoned media executive and a top family lawyer will address the dynamics and structure of Sports & Media M&A and Investment.
MAJOR TOPICS:
Global expansion, new revenue streams and other deal drivers
U.S. v. foreign markets
Brand building / becoming a global franchise
Sports and social media
Media agreements
Ownership: individuals, private equity, public markets
Valuation parameters
Sale of sports teams driven or hampered by divorce
Outlook for the future
Current & Emerging Accounting Developments presented by McGladrey - AICPA Nat...Brian Marshall
McGladrey & Pullen Presentation (Rick Day & Brian Marshall) on Current & Emerging Accounting Developments at the June 2011 AICPA National Audit Committee Forum
2014 AICPA CFO Conference - Accounting Trends and Update Brian Marshall
This document provides summaries of topics discussed at an accounting trends and updates event for CFOs hosted by McGladrey LLP. It includes biographies of two partners at McGladrey, Rick Day and Brian Marshall. The bulk of the document summarizes discussions on recent and upcoming changes from the Private Company Council and FASB, including new standards and alternatives for private companies. Joint projects between FASB and IASB like revenue recognition, leases, and financial instruments are also summarized.
We started by discussing the question of whether there are human zoos. We looked at pictures and developed ideas, comparing humans and animals to ask if we are like animals or animals are like us. We took notes from programs to help answer sub-questions. I learned facts about rhinos, like female rhinos being more relaxed than males and thin rhino skin. Now I am confident in my opinion that human zoos exist because jails are like zoos where people cannot leave and others visit.
This document provides information about the Sport, Lifestyle & Recreation (SLR) subject offered by the PDHPE faculty. It outlines that SLR is a non-ATAR subject that can be taken as a 1 Unit or 2 Unit course, with varying time commitments each week. The document discusses potential topics covered in SLR and provides examples of career pathways and university opportunities that are relevant for students who study this subject.
FASB/IASB Joint Projects - presented by McGladrey at 2011 NYSSCPA Private Com...Brian Marshall
The document discusses the progress of several joint projects between the FASB and IASB, including revenue recognition, financial instruments, and leases. For revenue recognition, the boards have completed redeliberations and are determining if re-exposure is needed before finalizing the new standard. For financial instruments, the boards continue work on impairment, hedge accounting, and other issues. For leases, the boards are redeliberating the proposed model to require balance sheet recognition of lease assets and liabilities for most leases.
Latest issues in revenue recognition - presented by McGladrey at December 201...Brian Marshall
The document summarizes recent changes to accounting standards regarding revenue recognition. It discusses the FASB's revised revenue recognition Exposure Draft, which proposes a principles-based standard using a five-step model to recognize revenue when control of goods or services is transferred. It also summarizes the updated guidance for multiple deliverable arrangements in ASU 2009-13, which provides more flexibility in separating deliverables and allocating arrangement consideration.
McGladrey Revised Revenue Recognition Exposure Draft Webcast – What Does It M...Brian Marshall
The FASB and IASB recently issued a revised exposure draft on revenue recognition after almost a year of redeliberations, with significant changes to the guidance originally proposed.
In addition to covering the revised proposal's major provisions, the webcast (at http://mcgladrey.com/images/media/ws_revised_revenue_recognition.wmv) addressed the approach required to comply with the core principle of the revised proposal including:
- Identify the contract with a customer
- Identify the separate performance obligations in the contract
- Determine the transaction price
- Allocate the transaction price to the separate performance obligations
- Recognize revenue when (or as) each performance obligation is satisfied
McGladrey presentation at June 2012 EEI Public Filers Symposium - Update on J...Brian Marshall
Update on Joint Revenue Recognition Project
Speaker - Brian Marshall
This session focuses on the FASB and IASB's second joint exposure draft on Revenue Recognition issued in November 2011, a key step in the Board's efforts to finalize converged guidance.
McGladrey-Tensoft presentation recordng- The Future of Revenue Recognition – ...Brian Marshall
The document summarizes a webcast about the future of revenue recognition standards presented by McGladrey and sponsored by Tensoft. It provided an overview of the new revenue recognition model including the 5 steps to comply with the core principle of depicting the transfer of goods or services to customers. It also discussed other revenue issues like contract costs, return rights, and warranties. The presentation concluded with information on disclosures, transition, and effective date of the new standards.
The overall objective is to help finance leaders gain an understanding of the significant changes that will result from the joint revenue recognition project to enable them to gauge the impact these changes will have on their company. The discussion will cover:
• Project overview
• Proposed five-step revenue model
• Other changes as a result of the model
• Disclosures, effective date and transition
McGladrey presentation at May 2012 AICPA CFO conference - FASB/IASB convergen...Brian Marshall
FASB/IASB Convergence Projects Update
Speakers: Brian H. Marshall, McGladrey LLP
Faye E. Miller, McGladrey LLP
The FASB and IASB are currently working together on a significant number of projects. This session will cover the status of these joint projects, with a particular focus on:
• Revenue Recognition
• Leasing
• Financial Instruments
McGladrey/AICPA presentation at September 2014 Global Manufacturing ConferenceBrian Marshall
Update on important new accounting and reporting developments over the past year addressing recent technical pronouncements along with accounting projects and proposals from FASB and other standard setters. Topics incude:
- New ASU on revenue recognition
- FASB's recently issued accoutning alternatives for private companies
- Overview of ket, other, new or porposed ASUs
FASB Update - presented by McGladrey at June 2011 NYSSCPA Private Company Acc...Brian Marshall
The document summarizes recent updates from the FASB, including significant accounting standards updates issued in 2010-2011. It discusses updates related to disclosures about credit quality and troubled debt restructurings, consolidation of repurchase agreements, impairment testing of goodwill, and accounting for costs of acquiring insurance contracts. The document also provides an overview of the FASB's priorities and recent board member changes.
This document provides information on the G.G.Tronics SSDAC axle counting system. It can be configured as a 2DP1S, 3DP1S, 3DP2S, or AS system. The 2DP1S configuration is described for a straight line or block section with start and end fed units communicating over a single pair of quad cable. Diagrams show the typical installation and positions of cards in the evaluator cabinet. The wheel detection principle based on phase detection is explained. Different configurations and their operation are also summarized.
McGladrey whitepaper - Revenue recognition, A whole new world - June 2014Brian Marshall
The document summarizes new accounting standards for revenue recognition issued by the FASB and IASB. Some key points:
- The new guidance replaces nearly all existing revenue recognition standards and eliminates many industry-specific standards.
- It introduces a principles-based five-step model for recognizing revenue that focuses on transfer of control of goods/services.
- Implementation will require significant changes to revenue recognition policies for many entities and industries. Areas like variable consideration, contract costs, licenses, and contracts with multiple elements will see changes.
- The standards take effect in 2017 for public entities and 2018 for other entities. Early analysis is recommended given potential impact.
McGladrey Guide to Accounting for Business Combinations - Second EditionBrian Marshall
A Guide to Accounting for Business Combinations is designed to help assist growing, owner-managed and public companies in their application of Topic 805, "Business Combinations," of the FASB Accounting Standards Codification®. Topic 805 has been in effect since 2009, and the Guide addresses many insights gained as a result of the application of this guidance since its effective date.
AICPA Webcast "Understanding the New Revenue Recognition Standard" presented ...Brian Marshall
This webcast provides an overview of the new revenue recognition standard and will discuss how to prepare for the transition to the converged standard. This webcast will also outline current and planned AICPA resources to help companies transition to the new standard as it has the potential to reverberate through company processes and systems in significant ways.
http://www.cpa2biz.com/AST/Main/CPA2BIZ_Primary/Accounting/PRDOVR~PC-WBC14031N/PC-WBC14031N.jsp#.U58-xpRdWuo
This document summarizes consulting services offered by Phillip W. Duff and Lighthouse Consulting to improve operational efficiency and profitability for businesses in the debt collection industry. It describes Duff's extensive experience in debt collection and operational consulting. Lighthouse Consulting offers operational assessments, ongoing operational consulting programs, a law firm leadership group, and a mentor program to help clients maximize revenue and reduce costs through process improvements and cultural changes.
W.J. Bradley is an independent residential mortgage lender that aims to be the top performer in the country. The document discusses W.J. Bradley's history of growth since 2002 through acquisitions and partnerships. It also outlines W.J. Bradley's approach to partnering with branches by providing resources like marketing, training, fulfillment support, and competitive pricing to originators. This partnership model and W.J. Bradley's ability to access multiple end investors is positioned to provide stability in changing markets.
Corporate Bankruptcy: Significant Issues for 2014 and Beyond LIVE WebcastThomas LaPointe
In a volatile and unpredictable economic environment, companies and industry watchers must be in the know with respect to the latest trends and issues in corporate bankruptcy. The Knowledge Group is assembling a panel of practitioners and thought leaders to offer insights and key takeaways. In a two-hour live webcast, speakers will address:
- Bankruptcy System: An Overview
- Recent Bankruptcy Cases and Lessons Learned
- Bankruptcy and Restructuring Litigation
- The Timeline For Bankruptcy Filings and Steps Involved
- Alternatives to Bankruptcy
- Secured claims and claim priorities
- Bankruptcy and Unexpired Leases, Executory, and Other Contracts
- Preference and Fraudulent Transfer Avoiding Powers and How Prosecute and Defend Them
- The Chapter 11 Plan: Drafting, Solicitation and Confirmation
- Procedural Requirements For Debtors, Creditors and Their Attorneys In Bankruptcy
- Bankruptcy Professionals and The Requirements For Their Employment and Compensation
- The Company After Bankruptcy
- Up-to-the-Minute Regulatory Updates
- Private equity and insolvent portfolio companies
- Healthcare in bankruptcy
This course is a must attend for attorneys who want to learn or re-learn how to counsel their clients on corporate bankruptcy issues in the most effective manner.
To view the webcast go to this link : http://youtu.be/9pLjh3OxABE
To learn more about the webcast please visit our website: http://theknowledgegroup.org/
The document discusses a credit repair and credit monitoring service called Credit Vantage that aims to help customers improve their credit scores and financial health. It offers services like credit analysis, removing inaccuracies from credit reports, disputing negative items, adding positive trade lines, credit score monitoring and education. Credit Vantage promises a 55-75 point credit score increase within 90 days and aims to reconnect customers with the referral partners who referred them through remarketing and transparency into the credit repair process.
INNOVATIVE CONSULTING FIRM FOUNDED IN 2004 BY TOP LEADERS IN THE MANAGEMENT CONSULTING SPACE.
Eight practice leaders; more than twenty-five multi-disciplinary consultants.
Four pillars of expertise: Business Assurance, Finance Optimization, Talent Solutions and Strategy/Communications.
Based in Mexico City and with international capabilities.
Great believers of on-demand talent solutions.
CONSULTING POWER THAT CAN BE AVAILABLE FOR THE TIME REQUIRED BY YOUR PROJECT, WITH NO LONG TERM COMMITMENTS AND WITH HIGH LEVELS OF FLEXIBILITY.
All our practice leaders are senior level executives with experience in multinational corporations and in specific functional roles.
We get the job done at the same time that we become agents of change for our clients, bringing a fresh perspective into problem-solving and sharing past experiences and best practices.
Capable of fully embedding into your operations and creating value since the very first day (Touch & Play).
W.J. Bradley is a residential mortgage lender that aims to be the top-performing independent lender in the country. Its mission is to operate as a well-run organization in order to achieve its vision of becoming the number one lender by 2015. The document discusses W.J. Bradley's history of growth, current size and operations, partnership model, and strategies for offering stability to partners in an evolving mortgage market.
Riskpro is an Indian organization that provides risk management consulting services through member firms located in major Indian cities. It aims to be the preferred provider of governance, risk, and compliance solutions. Riskpro has over 200 years of cumulative experience among its experienced professionals. It offers quality advisory services at affordable rates for mid-large sized corporate and financial institutions. Key services include credit, operational, and fraud risk consulting as well as regulatory compliance, enterprise risk management, and outsourcing management.
With advent of growing business scale, cross border operations, legal ramifications associated and witnessed instances of growing corporate and accounting scandals, SOX compliance has been gaining importance towards need for top management to certify the accuracy of financial information, increased independence of the outside auditors who review the accuracy of corporate financial statements, and increased oversight role of boards of directors.
We at Riskpro do understand the need for corporates to be SOX complaint w.r.t compliance clauses, public disclosures, management certification and audit, training needs for your teams, hence we’re pleased to launch our SOX Risk Advisory Services in addition to our existing bouquet of Risk advisory, Consulting, Training & Human Capital Services. Our services are offered through our multi location delivery centres in major metros with total presence in 11 Indian cities network.
Riskpro is an Indian organization that provides risk management consulting services through member firms located in major Indian cities. It aims to be the preferred provider of governance, risk, and compliance solutions. Riskpro has over 200 years of cumulative experience among its experienced professionals. It offers quality advisory services at affordable rates for mid-large sized corporate and financial institutions. Key services include credit, operational, and fraud risk consulting as well as regulatory compliance, enterprise risk management, and outsourcing management.
FinCEN’s Anti-Money Laundering Developments: A 2015 Update LIVE WebcastThomas LaPointe
In August 2014, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury published a proposed Anti-money Laundering (AML) rule that would require financial institutions, subject to Customer Identification Procedures (CIP), to identify beneficial owners of legal entity customers and subject them to customer due diligence. This includes banks, securities brokers and dealers, mutual funds, futures commission merchants, and others. This CLE course offers participants an overview of the latest trends and best practices with respect to FinCEN’s new rule on Anti-Money Laundering and other developments in BSA/AML enforcement. A panel of thought leaders and practitioners assembled by The Knowledge Group will help firms better understand how to advise clients about application of the new rules in their businesses.
The Knowledge Group has assembled a panel of key thought leaders to provide the audience with an in-depth over-view, analysis, and discussion of FinCEN’s new rule on Anti-Money Laundering and developments in BSA/AML enforcement.
Key issues include that will be covered in this course are:
Anti-money Laundering
Proposed Rules for Financial Transparency
FinCEN Advisories on AML Compliance
Trade-based Money Laundering
Identifying Customers
Identifying Beneficial Owners
Reporting Initiative on Cross-Border Cash Couriers
Recent Enforcement Actions
Compliance and Litigation Risks
To view the webcast go to this link: http://youtu.be/7MNt-5su2LU
To learn more about the webcast please visit our website: http://theknowledgegroup.org
The document is a cover letter and resume for Amardeep Kharod applying for a new position. It summarizes his qualifications including extensive education in areas like insurance, law, and policing. It also outlines his work experience owning his own logistics company and various roles in sales, customer service, and management. Kharod is looking for a new challenging career opportunity where he can apply his skills and experience.
Strategic Capital Partners offers a multitude of funding options to small business owners across the nation. Speed, simplicity, and security are the driving factors behind everything we provide to our clients. Upon submitting your application, we review it with a dedicated funding advisor. We then search our vast network of lenders to find the best funding options available to perfectly meet the demands of your business. Small business is the backbone of America and Strategic Capital Partners is the backbone of small business.
Beam Suntory Inc. proposal from Deloitte & Touche LLP dated July 8, 2016. The proposal outlines Deloitte's experienced audit team for Beam Suntory, their industry expertise in food and beverage, and their risk-based audit approach. It also provides estimated fees of $2,550,000 for 15,000 hours of audit work annually.
Check out how importance due diligence and background check for your business in Indonesia.
You can also check the complete article here: http://www.cekindo.com/due-diligence-and-background-check-in-indonesia.html
If you have any further question related to getting halal certificate in Indonesia, don't hesitate to contact us through email to info@cekindo.com or phone 021 - 80660999
M&A Communication Essentials for Acquiring CompaniesThomas H Kessler
This webinar, led by GPMIP Partner, Thomas Kessler, outlines the basics for M&A communications training for companies looking to train their teams ahead of a pending acquisition.
FINRA Supervision Rules: What You Need to Know in 2015 LIVE WebcastThomas LaPointe
In this two-hour LIVE webcast, a panel of distinguished professionals and thought leaders will help broker/dealers and financial advisors implement the new FINRA rules. They will discuss important new provisions of the new FINRA consolidated supervision rules and discuss best practices.
Key topics include:
• Supervision (New FINRA Rule 3110)
• Supervisory Control System (New FINRA Rule 3120 )
• Holding Customer Mail (New FINRA Rule 3150 )
• Tape Recording of Registered Persons by Certain Firms (New FINRA Rule 3170 )
And a lot more!
To view the webcast go to this link: http://youtu.be/IPmdXnS0WIE
To learn more about the webcast please visit our website: http://theknowledgegroup.org
This document discusses the services, products, and opportunities provided by IFFG Home Loans. Key points include:
1) IFFG offers a wide range of loan products including conforming, FHA, VA, USDA, jumbo, and non-QM loans. They work with over 20 correspondents.
2) IFFG provides resources and support for loan originators including a dedicated transition team, training programs, CRM tools, and daily reporting.
3) The company has opportunities for loan originators to advance their careers into management roles such as branch manager, regional manager, or division manager roles.
The Role of the Board in a Private Company (Series: Board of Directors Boot C...Financial Poise
To view the accompanying webinar, go to: https://www.financialpoise.com/financialpoisewebinars/on_demand_webinars/the-role-of-the-board-in-a-private-company/
Private company owners, including family businesses, ESOPs, and private equity owners, often have different expectations for their boards than is common in publicly traded firms. Besides being much less encumbered by regulatory compliance, many private firms are looking for a completely different kind of engagement from directors. In companies with new boards, leaders and directors often struggle early on to determine the role of the board and how to separate board responsibilities from those of ownership and management. In this webinar, the audience will learn what companies are really looking for (or should be) from their boards, and the many ways that boards contribute to private company success.
Equities Capital seeks independent agents to market securities-backed loan programs. Agents earn a 0.5 point commission on closed loans, providing opportunities to earn $500-$40,000+ per transaction. No experience is required, as Equities Capital provides training and marketing materials. Agents market to a wide range of professionals, including real estate agents, bankers, and investors, to help their clients access non-recourse loans secured by stock holdings.
Payroll Webinar: Untangling Multi State Payroll Reporting ComplexitiesAscentis
Almost all states require employers to withhold tax from employee wages earned for work performed in that state, even for nonresidents. As a starting point, the default rule of state income tax withholding is to withhold income tax for the state in which services are performed (the work state). But what happens when the employee lives and works in different states. What happens when the individual works in multiple states? This course will explore the obligations to payroll reporting for state purposes including exception cases with state reciprocity and convenience of the employer states. The course will look to “untangle” the complexities around when and how to report to non-resident states and when to withhold and remit state and local taxes.
Similar to Knowledge Congress Revenue Recognition Webcast - Sep. 5, 2012 (20)
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
The Rise of Generative AI in Finance: Reshaping the Industry with Synthetic DataChampak Jhagmag
In this presentation, we will explore the rise of generative AI in finance and its potential to reshape the industry. We will discuss how generative AI can be used to develop new products, combat fraud, and revolutionize risk management. Finally, we will address some of the ethical considerations and challenges associated with this powerful technology.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Knowledge Congress Revenue Recognition Webcast - Sep. 5, 2012
1. Speaker Firms and Organization:
McGladrey LLP
Brian H. Marshall
Partner, National Accounting Standards Group
Morgan, Lewis & Bockius LLP
Susan D. Resley
Partner
Thank you for logging into today’s event. Please note we are in standby
mode. All Microphones will be muted until the event starts. We will be
back with speaker instructions @ 11:55am. Any Questions? Please email:
Info@knowledgecongress.org
Group Registration Policy
Please note ALL participants must be registered or they will not be able to access
the event.
If you have more than one person from your company attending, you must fill out the
group registration form.
We reserve the right to disconnect any unauthorized users from this event and to
deny violators admission to future events.
To obtain a group registration please send a note to info@knowledgecongress.org or
call 646.202.9344.
Presented By:
September 5, 2012
1
Sponsored By:
2. Sponsored By:
Morgan Lewis provides comprehensive corporate, transactional, regulatory,
litigation, and labor and employment legal services to clients of all sizes—
from global Fortune 100 companies to just-conceived startups—across all
major industries. We craft and execute business- and industry-specific
strategies that align with today’s evolving economic and regulatory
conditions, and that address the full scope of our clients’ challenges and
opportunities in the courtroom, in the boardroom, within the workforce, and in
government and policy matters.
Founded in 1873, Morgan Lewis comprises some 3,000 professionals—
lawyers, patent agents, employee benefits advisors, regulatory scientists and
other specialists—in 24 offices across the United States, Europe, and Asia.
2
McGladrey LLP is the fifth largest U.S. provider of assurance, tax and
consulting services, with more than 6,500 professionals and associates
in 75 offices nationwide. McGladrey is a licensed CPA firm, and a
member of RSM International, the sixth largest global network of
independent accounting, tax and consulting firms.
September 5, 2012
3. If you experience any technical difficulties during today’s WebEx session, please contact our Technical Support @ 866-779-3239.
You may ask a question at anytime throughout the presentation today via the chat window on the lower right hand side of your
screen. Questions will be aggregated and addressed during the Q&A segment.
Please note, this call is being recorded for playback purposes.
If anyone was unable to log in to the online webcast and needs to download a copy of the PowerPoint presentation for today’s
event, please send an email to: info@knowledgecongress.org. If you’re already logged in to the online webcast, we will post a link
to download the files shortly.
“If you are listening on a laptop, you may need to use headphones as some laptops speakers are not sufficiently amplified enough to
hear the presentations. If you do not have headphones and cannot hear the webcast send an email to info@knowledgcongress.org
and we will send you the dial in phone number.“
3
September 5, 2012
4. About an hour or so after the event, you'll be sent a survey via email asking you for your feedback on your experience with this event
today - it's designed to take less than two minutes to complete, and it helps us to understand how to wisely invest your time in future
events. Your feedback is greatly appreciated. If you are applying for continuing education credit, completions of the surveys are
mandatory as per your state boards and bars. 6 secret words (3 for each credit hour) will be given throughout the presentation. We
will ask you to fill these words into the survey as proof of your attendance. Please stay tuned for the secret word.
Speakers, I will be giving out the secret words at randomly selected times. I may have to break into your presentation briefly to read
the secret word. Pardon the interruption.
4
September 5, 2012
5. 5
• No Commitment Unlimited CLE/CPE for one low monthly fee $49!
• Access Hundreds of Live Webcasts in 2012, 1,000+ Hours Archived Recordings
• 20,000+ Pages Course Material!
• Subscription Plan Features:
Access to all LIVE CLE/CPE/CE webcasts
Download any of the 1,000 hours of Archived webcasts and 20,000+ pages course materials
You get a code which will allow you to register for any program or download any recorded webcast for free.
Month to month plan. Cancel anytime. No commitment!
• For more information about The Knowledge Group’s No Commitment Monthly Unlimited program, please visit us here:
• https://web.memberclicks.com/mc/quickForm/viewForm.do?orgId=gkc&formId=110877
September 5, 2012
6. Brief Speaker Bios:
Susan D. Resley
Susan D. Resley is a partner in Morgan Lewis's Litigation Practice. Ms. Resley represents companies, brokerage and accounting
firms, as well as individual directors, officers, and employees in investigations and proceedings brought by the Securities and
Exchange Commission, the PCAOB, FINRA and in related shareholder and derivative litigation. She has been retained by a number of
audit and independent board committees to conduct internal investigations on a variety of issues, including accounting, disclosure, and
FCPA.
Prior to joining Morgan Lewis, Ms. Resley was a partner in the securities litigation group of an international law firm in its Silicon Valley
office; before that, she was a partner at another international firm. Previously, she was with the SEC's Division of Enforcement in its
Pacific Regional Office, where she led and conducted investigations involving insider trading, accounting practices, broker-dealer
practices, market manipulation, municipal bond offerings, and offering fraud.
6
► For more information about the speakers, you can visit: http://www.knowledgecongress.org/speakers_2012_Revenue_Recognition.html
Brian H. Marshall
Brian is a partner in the National Accounting Standards Group of McGladrey LLP. His responsibilities include consulting with clients
and engagement teams on complex accounting issues, facilitating training, monitoring standard setting and writing interpretive
guidance. Brian’s primary areas of expertise include general revenue recognition, software revenue recognition, asset impairments,
and business combinations accounting.
Prior to joining McGladrey in 2007, Brian worked in the accounting practices group of a Fortune 50 company serving as a resource on
complex technical accounting matters. Brian also was employed by a Big Four firm for over eight years in various U.S. and European
offices, with his last position being an assurance senior manager. Brian holds a Bachelor of Business Administration degree in
accounting from Holfstra University in New York. He is a licensed CPA in Connecticut and New York, and a member of their
respective state CPA societies along with the AICPA.
September 5, 2012
7. Revenue recognition remains to be a topic of perennial interest in 2012 as it affects almost all
companies. In an effort to resolve incongruent accounting standards and practices on revenue
recognition, FASB and IASB have proposed new revenue recognition standards through an Exposure
Draft in 2011. These new standards, if enacted, would result in the most broad reaching and
fundamental changes to the recognition of revenue in businesses moving forward.
The Knowledge Group is producing a two-hour LIVE webcast to help companies gain a complete
understanding of the nuts and bolts of the proposed standards and its potential impact on their
businesses. Changes to Revenue Recognition in 2012 is a must attend event for accountants, finance
executives and managers, corporate attorneys and other related professionals.
7
September 5, 2012
8. Featured Speakers:
8
SEGMENT 2:
Susan D. Resley
Partner
Morgan, Lewis & Bockius LLP
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
9. Introduction
Brian is a partner in the National Accounting Standards Group of McGladrey LLP. His responsibilities
include consulting with clients and engagement teams on complex accounting issues, facilitating
training, monitoring standard setting and writing interpretive guidance. Brian’s primary areas of
expertise include general revenue recognition, software revenue recognition, asset impairments, and
business combinations accounting.
Prior to joining McGladrey in 2007, Brian worked in the accounting practices group of a Fortune 50
company serving as a resource on complex technical accounting matters. Brian also was employed by
a Big Four firm for over eight years in various U.S. and European offices, with his last position being
an assurance senior manager. Brian holds a Bachelor of Business Administration degree in accounting
from Holfstra University in New York. He is a licensed CPA in Connecticut and New York, and a
member of their respective state CPA societies along with the AICPA.
9
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
10. Overview
Preliminary views document issued in Dec. 2008
Exposure draft issued in June 2010
Revised exposure draft issued in Nov. 2011
Redeliberations began in July 2012
Final standard expected in early 2013
10
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
11. Scope
Applicable to all industries and entities
Specific contracts with customers outside of scope:
- Financial instruments
- Guarantees (other than warranties)
- Insurance
- Leases
- Certain nonmonetary exchanges
Contracts with performance obligations in multiple standards
Recognition and measurement principles also applicable to sales of nonfinancial assets
that are not classified as revenue
11
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
12. Core principle
Recognize revenue to depict the transfer of promised goods or services to customers in
an amount that reflects the consideration to which the entity expects to be entitled in
exchange for those goods or services
12
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
13. Five-step approach
13
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
• Approach to comply with the core principle
Identify the
contract with
a customer
(Step 1)
Identify the
separate
performance
obligations in
the contract
(Step 2)
Determine
the
transaction
price
(Step 3)
Allocate the
transaction
price to the
separate
performance
obligations
(Step 4)
Recognize
revenue when
(or as) each
performance
obligation is
satisfied
(Step 5)
September 5, 2012
14. 1. Identify the contract with a customer
Enforceable agreement between parties
Can be written, oral or implied
Combination
- Required for contracts entered into at or near the same time if certain criteria are
met
Modifications
- Treat separately if separate performance obligation is added and the consideration
is consistent with its standalone selling price
- Otherwise combine with remaining goods or services
14
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
15. 2. Identify separate performance obligations
Promise in a contract to transfer a good or service
Account for good or service separately if distinct based on meeting both of the following
criteria:
- Capable of being distinct because the customer can benefit from the good or
service on its own or together with other resources readily available to the
customer; and
- Distinct within the context of the contract because the good or service is not highly
dependent on, or highly interrelated with, other promised goods or services in the
contract
Indicators of distinct goods or services:
- No significant integration or modification services
- Can be purchased without significantly affecting other promised goods or services
in the contract
- Not part of consecutively delivered goods or services
15
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
16. 3. Determine the transaction price
Amount of consideration to which an entity expects to be entitled from a customer
Variable consideration
- Estimate based on probability-weighted or most-likely amount
Time value of money
- Only affects transaction price if significant financing component exists
- Can ignore if time between payment and transfer of goods or services is one year
or less
16
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
17. 3. Determine the transaction price
Noncash consideration
- Measure at fair value or by reference to standalone selling price of related goods or
services
Consideration payable to a customer
- Reduction of transaction price unless in exchange for distinct good or service
Collectibility
- Not considered in transaction price
- Generally record uncollectible amounts adjacent to revenue
17
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
18. 4. Allocate the transaction price
Generally based on relative standalone selling prices of separate performance
obligations
Standalone selling price
- Observable price when sold separately (best)
- Otherwise, estimate based on:
• Cost plus margin
• Adjusted market assessment
• Residual technique allowed if highly variable or uncertain
• Others?
Subsequent changes in the transaction price are allocated on a relative standalone
selling price basis unless certain criteria are met
18
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
19. 5. Recognize revenue
Recognize revenue as performance obligations are satisfied based on transfer of control
Determine if satisfied (and revenue recognized) over time, based on whether entity’s
performance:
- Creates or enhances an asset the customer controls; or
- Benefits customer as entity performs and another entity would not need to
reperform work completed to date (for pure services contracts); or
- Does not create an asset with an alternative use and vendor has right to payment
for performance to date
Select method of progress toward completion (output or input)
19
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
20. 5. Recognize revenue
If prior criteria not met, then satisfied at a point in time
Recognize revenue when customer obtains control based on following indicators:
- Entity has right to payment
- Entity has transferred physical possession
- Customer has legal title and risks and rewards of ownership
- Customer has accepted goods or services
Recognize amount allocated to performance obligation except for certain variable
consideration, which is limited to reasonably assured amount based on:
- Experience with similar performance obligations
- Whether that experience is predictive of outcome
20
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
21. Contract costs
Capitalize direct costs of fulfilling a contract or anticipated contract if those costs:
- Generate or enhance a resource that will be used to satisfy performance
obligations in the future (e.g., setup costs); and
- Are expected to be recovered
Capitalize incremental costs to obtain a contract if expected to be recovered
Practical expedient to expense costs to obtain a contract as incurred if amortization
period would have been one year or less
21
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
22. Warranties
Customer option to purchase separately
- Separate performance obligation recognized over time (warranty service)
No customer option to purchase separately and warranty does not provide an
additional service
- Recognize revenue and accrue expected costs
- Consider following in determination of whether additional service is being
provided:
• Whether warranty is required by law
• Length of warranty period
• Nature of tasks to be performed
22
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
23. Other issues
Onerous performance obligations
- Removed from model during July redeliberations
- FASB decided to retain existing guidance regarding the recognition of losses from
contracts with customers, including ASC 605-35
Licensing and rights to use
- Same guidance as for other goods or services
- Revenue recognized at point in time when control transfers if separate
performance obligation
23
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
24. Disclosures / transition / effective date
Disclosure objective:
- Quantitative and qualitative information regarding nature, amount, timing and
uncertainty of revenue and related cash flows
Retrospective transition with certain practical expedients
Effective date no earlier than 2015 for public entities and 2016 for nonpublic entities
24
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
25. McGladrey thought leadership
FASB and IASB Issue Revised Exposure Draft on Revenue Recognition
Revised Revenue Recognition Exposure Draft – What Does It Mean For You?
http://mcgladrey.com/Assurance/Accounting-Resources
http://mcgladrey.com/Publications/Publication-Subscription
25
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
26. For more information, please contact:
Brian H. Marshall
brian.marshall@mcgladrey.com
203.312.9329
26
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
27. Introduction
Susan D. Resley is a partner in Morgan Lewis's Litigation Practice. Ms. Resley represents companies,
brokerage and accounting firms, as well as individual directors, officers, and employees in
investigations and proceedings brought by the Securities and Exchange Commission, the PCAOB,
FINRA and in related shareholder and derivative litigation. She has been retained by a number of audit
and independent board committees to conduct internal investigations on a variety of issues, including
accounting, disclosure, and FCPA.
Prior to joining Morgan Lewis, Ms. Resley was a partner in the securities litigation group of an
international law firm in its Silicon Valley office; before that, she was a partner at another international
firm. Previously, she was with the SEC's Division of Enforcement in its Pacific Regional Office, where
she led and conducted investigations involving insider trading, accounting practices, broker-dealer
practices, market manipulation, municipal bond offerings, and offering fraud.
27
SEGMENT 2:
Susan D. Resley
Partner
Morgan, Lewis & Bockius LLP
September 5, 2012
28. REGULATOR PERSPECTIVE
• Which Regulators
• Focus of Regulators
• Potential Landmines/Red Flags
28
SEGMENT 2:
Susan D. Resley
Partner
Morgan, Lewis & Bockius LLP
September 5, 2012
29. REGULATORS
• Securities and Exchange Commission
• Division of Corporate Finance
• Office of Chief Accountant
• Division of Enforcement
• PCAOB
29
SEGMENT 2:
Susan D. Resley
Partner
Morgan, Lewis & Bockius LLP
September 5, 2012
30. POTENTIAL FOCUS AREA
NO 1: DISCLOSURE
• More Expansive
• Additional requirements for Annual Disclosures
• Customer contracts
• Significant judgments and changes in judgments to apply current guidance
• Assets recognized from costs incurred to obtain or fulfill a contract
30
SEGMENT 2:
Susan D. Resley
Partner
Morgan, Lewis & Bockius LLP
September 5, 2012
31. POTENTIAL FOCUS AREA NO. 2: JUDGMENT
• Key Area: “Determining the Transaction Price”
• Collectibility???
• Other issues
• Software Revenue Recognition
• Use of Estimates
• Multiple Element Arrangments
31
SEGMENT 2:
Susan D. Resley
Partner
Morgan, Lewis & Bockius LLP
September 5, 2012
32. POTENTIAL FOCUS AREA NO. 2: JUDGMENT
• Key Area: “Allocating the Transaction Price”
• Selling price of a good or service may be “highly variable or uncertain”
32
SEGMENT 2:
Susan D. Resley
Partner
Morgan, Lewis & Bockius LLP
September 5, 2012
33. WHY IS JUDGMENT A CONCERN
• “[R]eliable accounting judgments are most dependent on good faith…other
enforcement actions where documentation was produced were the result of certain
inputs or assumptions being fraudulently developed, such as through reverse
engineering to meet earnings targets.”
– Jason Flemmons, Associate Chief Accountant, SEC Division of
Enforcement, December 9, 2009
33
SEGMENT 2:
Susan D. Resley
Partner
Morgan, Lewis & Bockius LLP
September 5, 2012
34. REVENUE RECOGNITION IS ALWAYS A FOCUS
• SEC PRIORITY
• SEC Enforcement Division evaluates judgment in questioning whether it is made in
good faith or is “accounting hocus pocus”
34
SEGMENT 2:
Susan D. Resley
Partner
Morgan, Lewis & Bockius LLP
September 5, 2012
35. LANDMINES/THEORIES OF LIABILITY
• Section 10(b): Fraud
• Managing earnings or revenue
• Disclosures are materially false
• SEC and private plaintiffs can bring this claim
• Deceit to Auditors
• Books and Records/Internal controls
ALL BASED ON HINDSIGHT
35
SEGMENT 2:
Susan D. Resley
Partner
Morgan, Lewis & Bockius LLP
September 5, 2012
36. ► You may ask a question at anytime throughout the presentation today. Simply click on the question mark icon located on the floating tool bar on the bottom right side of your screen. Type
your question in the box that appears and click send.
► Questions will be answered in the order they are received.
Q&A:
36
SEGMENT 2:
Susan D. Resley
Partner
Morgan, Lewis & Bockius LLP
SEGMENT 1:
Brian H. Marshall
Partner, National Accounting Standards Group
McGladrey LLP
September 5, 2012
37. 37
• No Commitment Unlimited CLE/CPE for one low monthly fee $49!
• Access Hundreds of Live Webcasts in 2011, 1,000+ Hours Archived
Recordings
• 20,000+ Pages Course Material!
• Subscription Plan Features:
Access to all LIVE CLE/CPE/CE webcasts
Download any of the 1,000 hours of Archived webcasts and 20,000+
pages course materials
You get a code which will allow you to register for any program or
download any recorded webcast for free.
Month to month plan. Cancel anytime. No commitment!
• For more information about The Knowledge Group’s No Commitment
Monthly Unlimited program, please visit us here:
• https://web.memberclicks.com/mc/quickForm/viewForm.do?orgId=gkc&for
mId=110877
September 5, 2012
38. ABOUT THE KNOWLEDGE CONGRESS:
The Knowledge Group, LLC is an organization that produces live webcasts which examine regulatory
changes and their impacts across a variety of industries. “We bring together the world's leading
authorities and industry participants through informative two-hour webcasts to study the impact of
changing regulations.”
If you would like to be informed of other upcoming events, please click here.
Disclaimer:
The Knowledge Group, LLC is producing this event for information purposes only. We do not intend to
provide or offer business advice.
The contents of this event are based upon the opinions of our speakers. The Knowledge Congress
does not warrant their accuracy and completeness. The statements made by them are based on their
independent opinions and does not necessarily reflect that of The Knowledge Congress' views.
In no event shall The Knowledge Congress be liable to any person or business entity for any special,
direct, indirect, punitive, incidental or consequential damages as a result of any information gathered
from this webcast.
38
September 5, 2012