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.
The Future of Revenue Recognition- Understanding the ComplexityTensoft, Inc.
The document summarizes a webcast on revenue recognition presented by McGladrey and hosted by Tensoft. It provided an overview of the new revenue recognition standard including the core principle of recognizing revenue as control of goods or services is transferred to customers. It described the 5-step model for revenue recognition, which involves identifying contracts and performance obligations, determining transaction price, allocating price to obligations, and recognizing revenue. It also discussed other issues like contract costs, returns, and warranties.
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.
Subcontracts_Me-A Fed Govt Contractor or Subcontractor_MN PTAC_06-09-2016_CBa...Chuck Barry
- The document summarizes key issues related to determining if a company is a federal subcontractor and the flow-down of requirements from prime contracts to subcontracts. It discusses common reasons companies claim they are not federal subcontractors and are exempt from compliance obligations. It also outlines mandatory flow-down clauses, including the 14 clauses that must flow down to subcontracts for commercial items. Finally, it warns of potential "subcontractor traps" and discusses new SBA rules on limitations of subcontracting.
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 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.
Wind_Energy_Law_2014_Amanda James_Overcoming Wind Energy Project Financing Ob...Amanda James
The document discusses key considerations for setting up the legal structure and financing of a wind energy project. It addresses:
1) Choosing an appropriate business entity that provides liability protection while optimizing tax treatment and eligibility for incentives. Common options include general partnerships, LLCs, LPs, and cooperatives.
2) Crafting long-term power purchase agreements with creditworthy utilities that specify pricing, production commitments, delivery points, default provisions, and risk allocation to provide predictable revenue essential for securing financing.
3) Negotiating other important contracts like engineering, construction, turbine supply, and O&M agreements that allocate costs, risks and warranties to support the project's viability.
The document discusses the key changes and challenges in implementing the new revenue recognition standard Ind AS 115, which is based on IFRS 15. Some of the significant changes include focusing on control rather than risks and rewards for timing of revenue recognition. It also requires identifying separate performance obligations in contracts and allocating the transaction price to each. This will impact industries like telecom and software development. Other challenges discussed are accounting for contract modifications and transactions containing financing elements.
The Future of Revenue Recognition- Understanding the ComplexityTensoft, Inc.
The document summarizes a webcast on revenue recognition presented by McGladrey and hosted by Tensoft. It provided an overview of the new revenue recognition standard including the core principle of recognizing revenue as control of goods or services is transferred to customers. It described the 5-step model for revenue recognition, which involves identifying contracts and performance obligations, determining transaction price, allocating price to obligations, and recognizing revenue. It also discussed other issues like contract costs, returns, and warranties.
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.
Subcontracts_Me-A Fed Govt Contractor or Subcontractor_MN PTAC_06-09-2016_CBa...Chuck Barry
- The document summarizes key issues related to determining if a company is a federal subcontractor and the flow-down of requirements from prime contracts to subcontracts. It discusses common reasons companies claim they are not federal subcontractors and are exempt from compliance obligations. It also outlines mandatory flow-down clauses, including the 14 clauses that must flow down to subcontracts for commercial items. Finally, it warns of potential "subcontractor traps" and discusses new SBA rules on limitations of subcontracting.
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 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.
Wind_Energy_Law_2014_Amanda James_Overcoming Wind Energy Project Financing Ob...Amanda James
The document discusses key considerations for setting up the legal structure and financing of a wind energy project. It addresses:
1) Choosing an appropriate business entity that provides liability protection while optimizing tax treatment and eligibility for incentives. Common options include general partnerships, LLCs, LPs, and cooperatives.
2) Crafting long-term power purchase agreements with creditworthy utilities that specify pricing, production commitments, delivery points, default provisions, and risk allocation to provide predictable revenue essential for securing financing.
3) Negotiating other important contracts like engineering, construction, turbine supply, and O&M agreements that allocate costs, risks and warranties to support the project's viability.
The document discusses the key changes and challenges in implementing the new revenue recognition standard Ind AS 115, which is based on IFRS 15. Some of the significant changes include focusing on control rather than risks and rewards for timing of revenue recognition. It also requires identifying separate performance obligations in contracts and allocating the transaction price to each. This will impact industries like telecom and software development. Other challenges discussed are accounting for contract modifications and transactions containing financing elements.
Government contractors use different teaming arrangements to best position themselves for a future award. Frequently a key element should be a clear appreciation of the relationship between the teaming arrangement and the desired business outcome. The best approach is to put “a planning team” in place (lawyers and CPAs) before putting “your business team” in place for a proposal. Join us as we help you understand:
•JV’s versus teaming agreement – which is preferable—and when?
•Small business set aside concerns
•Pitfalls – poorly written or nonspecific agreements
•To consolidate or not to consolidate – a look at the financial statement impact
With good planning, you can position yourself to respond to RFP’s effectively, create a positive business relationship, and know what to expect at year-end.
Original air dates:
May 27, 2014 and June 12, 2014
The FASB's new standard on revenue recognition will impact most companies and their internal accounting practices. Are you ready? This new standard for revenue recognition does away with industry guidance in favor of a single contract based model. This will result in significant changes in internal accounting practices for virtually all industries. During this webinar, experts from CBIZ and Mayer Hoffman McCann will discuss requirements of the new standard; the implications of the standard to your business; and timing of the implementation.
The Italian Supreme Court ruled that a put option awarded to a shareholder in the context of participating loan transactions does not breach the prohibition of leonine clauses. The Court found that the real purpose of the agreement was to indirectly raise finance for the company, not to exclude the shareholder totally from profits and losses. As the shareholder remained interested in the company's performance due to the option, the criteria for a leonine clause were not met. This clarified that participating loan agreements combining share purchases and put options can be legitimate forms of alternative company financing under Italian law.
“You can download this product from SlideTeam.net”
Pooling the business resources and acquiring expertise to achieve a particular company business is an important corporate move. Utilize this Joint Venture Proposal PowerPoint Presentation Slides to project the major decision of the company venture in an impressive manner. Our ready to present joint venture agreement proposal PowerPoint theme comprises of contents namely introduction, formation, purchase and sale, principal contacts, roles and responsibilities of partners, due diligence review, purchase and employee agreement, public announcements, etc. Also, the slides here can explain important topics such as negotiation rights, dispute resolutions, etc. in a detailed way to make it clear to the to-be partner. Entrepreneurs and other business professionals can make use of this enterprise venture PPT graphic to have a great impression over the target organization. Expand your company and make your customers understand the entire acquisition process by employing this joint business undertaking bid PowerPoint theme. Highlight the talent, skills, and personnel to complement each other in a joint venture to form a promising business alliance. The principal contacts for the individual organization inclusive of designation and address are displayed in this professionally designed company amalgamation contract PPT layout. The roles and responsibilities of partners can be listed for a smooth business acquisition process. The conditions in case of a dispute between the partners are stated in this customizable organization venture proposal PowerPoint template. Additionally, you can advertise the corporate history of services you offer and prove your expertise in our various niches. Download this joint enterprise deal proposal PPT visuals to solve all your worries of approaching and acquiring target companies. https://bit.ly/3BvRvTa
The document summarizes key changes in the final FATCA regulations that impact insurance companies. Four changes stand out: 1) A new de minimis rule excludes insurance contracts with cash values under $50,000 from being considered financial accounts; 2) Insurance definitions were simplified; 3) Changes to the definition of cash value insurance contracts add exemptions to reduce contracts treated as financial accounts; 4) Insurance companies paying death benefits are no longer required to obtain beneficiary documentation unless they know the beneficiary is a US person. These changes reduce the number of insurance products and customers impacted by FATCA requirements.
The document provides an overview of Indian Accounting Standard 116 on lease accounting. Some key points:
1. Ind AS 116 replaces the dual classification model under Ind AS 17 and requires most leases to be recognized on the balance sheet by lessees. It aims to provide more transparent representation of leasing activities.
2. The standard applies to all leases with certain exceptions such as leases of biological assets, service concession arrangements, and licenses of intellectual property.
3. Lessees can elect to not apply the recognition requirements to short-term leases (under 12 months) and leases of low-value assets.
4. The standard defines a lease as a contract that conveys
10 things lawyers need to know about contract managementBerkman Solutions
Discover 10 techniques to enhance the value of legal services after the contract is signed. Build deeper, sustainable relationships for every outside legal counsel.
As a lawyer, you invest time to understand your client’s objectives, risks, and opportunities. What happens to your carefully drafted contract?
Your contract is filed and forgotten. Your client needs the benefit of your drafting during the entire contract term. Your client’s need is your opportunity.
There are, of course, organizations with mature contract management functions, but for every other client here are…
10 Things Every Business Lawyer Should Know about Contract Management
In less than 30 minutes, this Guide to Contract Management clarifies how to manage contracts. Follow practical steps to control contract risk and improve financial performance. The Guide provides specific recommendations about what contract data to track.
Learn about the 5 principles of contract management. These principles elevate contract management from an administrative burden to a vital risk management function.
EMLI Training-Legal Due Diligence for Acquisition Deal in Indonesian Mining P...EMLI Indonesia
Materi Legal Due Diligence untuk perusahan tambang di Indonesia yang disampaikan oleh Bapak Dendi Adisuryo dalam acara Kursus Intensif Hukum Pertambangan. Acara tersebut di selenggarakan oleh EMLI Trainig, yang hingga saat ini telah memiliki 1000 Alumini dari berbagai jenis latar belakang.
Introduction to Commercial Contract DraftingEMLI Indonesia
Materi Workshop Contract Drafting yang disampaikan oleh Bapak Dendi Adisuryo yang memiliki background sebagai commercial lawyer akan memberikan pemahaman dan pandangan kepada peserta workshop mengenai beberapa segi hukum kontrak, norma kepatutan hukum kontrak dalam proses penyusunan kontrak serta mengenai kontrak atas transaksi bisnis yang bersifat lintas negara.
Construction Futures Wales - Project Bank AccountsRae Davies
1. The document discusses Project Bank Accounts (PBAs), which are bank accounts set up to ensure timely payment to contractors and subcontractors on construction projects.
2. The Welsh Government has implemented a policy requiring PBAs for capital projects over £2 million to address issues like contractors waiting over 100 days to be paid.
3. A cost-benefit analysis found that the benefits of PBAs, like improved cash flow, outweigh the costs for all parties involved in construction projects.
A closer look principal versus agent - finalHussainMunshi2
The document discusses key considerations around assessing whether an entity is acting as a principal or agent under IFRS 15. IFRS 15 introduced a control-based model that differs from the risks-and-rewards approach in IAS 18. While the principal-versus-agent indicators are similar, conclusions reached under IFRS 15 may differ due to its focus on when the entity obtains control of goods or services. Proper evaluation requires judgment and considering whether the entity's promise is to provide the good or service itself or arrange for a third party to provide it.
Materi Workshop Legal Due Diligence (LDD) yang di selenggarakan oleh EMLI Training. Materi di sampaikan oleh Bapak Dendi Adisuryo, beliau adalah Partner at ADCO Attorneys at Law.
Dan Haynes Government Contract Accounting Updatedanhaynes
This document discusses government contract accounting and compliance requirements. It provides an overview of the Federal Acquisition Regulation (FAR) which governs federal contracts. Key parts of the FAR discussed include cost accounting standards, cost principles, and business ethics compliance. The document also summarizes a study on economic crimes in the aerospace and defense industry which found that a third of companies reported crimes in the last two years.
How to Raise Seed Funding for Your Startup: Convertible Notes and SAFEsideatoipo
Seed financings enable a startup to put together its initial team, build a working prototype, and begin to test the market. Often these investments are made via convertible debt or SAFEs. Veteran Silicon Valley startup and corporate attorney Jason Putnam Gordon will cover the following topics:
Required corporate structure
Legal considerations when pitching investors for seed financing
Differences between using convertible debt and SAFEs
Key terms and considerations when raising seed funding
Common mistakes and pitfalls that companies make when raising seed funding via convertible debt and SAFEs
How to close your seed financing
Important post-closing tasks
And much, much more
This document provides an overview of cost proposal development for government contracts. It discusses reading the RFP thoroughly, determining what types of costs are allowable, and pricing direct costs based on verifiable sources. It also explains how to categorize costs as direct, indirect, or unallowable and how to establish indirect cost rates. The document cautions against common mistakes like inconsistencies in the proposal and lack of supporting documentation. It concludes with information on DCAA audits and upcoming seminars.
This document discusses considerations for working with partners in a business partnership. It covers potential partner contributions, partnership agreements, negotiations, determining partner value, buy-sell agreements, capital contributions, control, decision making, dispute resolution, duties, and negotiations. Key points include determining the value partners bring through client relationships and skills, drafting comprehensive partnership agreements, and planning for contingencies like partner exit or dissolution.
This document discusses the intersection of business law and bankruptcy. It provides an overview of bankruptcy law concepts including different chapters of bankruptcy, the automatic stay, treatment of secured and unsecured claims, executory contracts, leases, sales of property, and plan confirmation. It also discusses how various business situations could intersect with bankruptcy law, such as when a business, vendor, customer or owner experiences financial troubles. Key areas of focus are reviewing cash flow and debt structure, analyzing claims and contracts, and understanding opportunities to purchase debtor assets.
This talk describes the representations and warranties clauses in a typical business purchase contract, the clauses limiting time in which such clauses may be enforceable, the dollar limits on same, and other non-contract ways to enforce your deals, such as reps and warranties insurance, fraudulent transfer litigation, arbitration, and suits against negligent deal intermediaries
IFRS-15 Updated(Amendment in 2020) .pptxarifnizam4
IFRS 15 establishes principles for reporting useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with a customer. The standard introduces a five-step model for revenue recognition: 1) identify the contract, 2) identify separate performance obligations, 3) determine the transaction price, 4) allocate the transaction price, 5) recognize revenue when performance obligations are satisfied. Revenue is recognized when control of goods or services is transferred to the customer. The amount recognized is the amount allocated to the satisfied performance obligation.
Revenue from Contracts with Customers- Tom EisemanDecosimoCPAs
The document provides an overview of the new revenue recognition standard, including the objective to depict the transfer of goods or services to customers in an amount that reflects the consideration the entity expects to receive. It discusses the five-step model to 1) identify contracts with customers, 2) identify separate performance obligations, 3) determine transaction price, 4) allocate price to obligations, and 5) recognize revenue when obligations are satisfied. It also covers transition methods, qualitative disclosures required, and some key disclosure requirements for nonpublic companies.
Government contractors use different teaming arrangements to best position themselves for a future award. Frequently a key element should be a clear appreciation of the relationship between the teaming arrangement and the desired business outcome. The best approach is to put “a planning team” in place (lawyers and CPAs) before putting “your business team” in place for a proposal. Join us as we help you understand:
•JV’s versus teaming agreement – which is preferable—and when?
•Small business set aside concerns
•Pitfalls – poorly written or nonspecific agreements
•To consolidate or not to consolidate – a look at the financial statement impact
With good planning, you can position yourself to respond to RFP’s effectively, create a positive business relationship, and know what to expect at year-end.
Original air dates:
May 27, 2014 and June 12, 2014
The FASB's new standard on revenue recognition will impact most companies and their internal accounting practices. Are you ready? This new standard for revenue recognition does away with industry guidance in favor of a single contract based model. This will result in significant changes in internal accounting practices for virtually all industries. During this webinar, experts from CBIZ and Mayer Hoffman McCann will discuss requirements of the new standard; the implications of the standard to your business; and timing of the implementation.
The Italian Supreme Court ruled that a put option awarded to a shareholder in the context of participating loan transactions does not breach the prohibition of leonine clauses. The Court found that the real purpose of the agreement was to indirectly raise finance for the company, not to exclude the shareholder totally from profits and losses. As the shareholder remained interested in the company's performance due to the option, the criteria for a leonine clause were not met. This clarified that participating loan agreements combining share purchases and put options can be legitimate forms of alternative company financing under Italian law.
“You can download this product from SlideTeam.net”
Pooling the business resources and acquiring expertise to achieve a particular company business is an important corporate move. Utilize this Joint Venture Proposal PowerPoint Presentation Slides to project the major decision of the company venture in an impressive manner. Our ready to present joint venture agreement proposal PowerPoint theme comprises of contents namely introduction, formation, purchase and sale, principal contacts, roles and responsibilities of partners, due diligence review, purchase and employee agreement, public announcements, etc. Also, the slides here can explain important topics such as negotiation rights, dispute resolutions, etc. in a detailed way to make it clear to the to-be partner. Entrepreneurs and other business professionals can make use of this enterprise venture PPT graphic to have a great impression over the target organization. Expand your company and make your customers understand the entire acquisition process by employing this joint business undertaking bid PowerPoint theme. Highlight the talent, skills, and personnel to complement each other in a joint venture to form a promising business alliance. The principal contacts for the individual organization inclusive of designation and address are displayed in this professionally designed company amalgamation contract PPT layout. The roles and responsibilities of partners can be listed for a smooth business acquisition process. The conditions in case of a dispute between the partners are stated in this customizable organization venture proposal PowerPoint template. Additionally, you can advertise the corporate history of services you offer and prove your expertise in our various niches. Download this joint enterprise deal proposal PPT visuals to solve all your worries of approaching and acquiring target companies. https://bit.ly/3BvRvTa
The document summarizes key changes in the final FATCA regulations that impact insurance companies. Four changes stand out: 1) A new de minimis rule excludes insurance contracts with cash values under $50,000 from being considered financial accounts; 2) Insurance definitions were simplified; 3) Changes to the definition of cash value insurance contracts add exemptions to reduce contracts treated as financial accounts; 4) Insurance companies paying death benefits are no longer required to obtain beneficiary documentation unless they know the beneficiary is a US person. These changes reduce the number of insurance products and customers impacted by FATCA requirements.
The document provides an overview of Indian Accounting Standard 116 on lease accounting. Some key points:
1. Ind AS 116 replaces the dual classification model under Ind AS 17 and requires most leases to be recognized on the balance sheet by lessees. It aims to provide more transparent representation of leasing activities.
2. The standard applies to all leases with certain exceptions such as leases of biological assets, service concession arrangements, and licenses of intellectual property.
3. Lessees can elect to not apply the recognition requirements to short-term leases (under 12 months) and leases of low-value assets.
4. The standard defines a lease as a contract that conveys
10 things lawyers need to know about contract managementBerkman Solutions
Discover 10 techniques to enhance the value of legal services after the contract is signed. Build deeper, sustainable relationships for every outside legal counsel.
As a lawyer, you invest time to understand your client’s objectives, risks, and opportunities. What happens to your carefully drafted contract?
Your contract is filed and forgotten. Your client needs the benefit of your drafting during the entire contract term. Your client’s need is your opportunity.
There are, of course, organizations with mature contract management functions, but for every other client here are…
10 Things Every Business Lawyer Should Know about Contract Management
In less than 30 minutes, this Guide to Contract Management clarifies how to manage contracts. Follow practical steps to control contract risk and improve financial performance. The Guide provides specific recommendations about what contract data to track.
Learn about the 5 principles of contract management. These principles elevate contract management from an administrative burden to a vital risk management function.
EMLI Training-Legal Due Diligence for Acquisition Deal in Indonesian Mining P...EMLI Indonesia
Materi Legal Due Diligence untuk perusahan tambang di Indonesia yang disampaikan oleh Bapak Dendi Adisuryo dalam acara Kursus Intensif Hukum Pertambangan. Acara tersebut di selenggarakan oleh EMLI Trainig, yang hingga saat ini telah memiliki 1000 Alumini dari berbagai jenis latar belakang.
Introduction to Commercial Contract DraftingEMLI Indonesia
Materi Workshop Contract Drafting yang disampaikan oleh Bapak Dendi Adisuryo yang memiliki background sebagai commercial lawyer akan memberikan pemahaman dan pandangan kepada peserta workshop mengenai beberapa segi hukum kontrak, norma kepatutan hukum kontrak dalam proses penyusunan kontrak serta mengenai kontrak atas transaksi bisnis yang bersifat lintas negara.
Construction Futures Wales - Project Bank AccountsRae Davies
1. The document discusses Project Bank Accounts (PBAs), which are bank accounts set up to ensure timely payment to contractors and subcontractors on construction projects.
2. The Welsh Government has implemented a policy requiring PBAs for capital projects over £2 million to address issues like contractors waiting over 100 days to be paid.
3. A cost-benefit analysis found that the benefits of PBAs, like improved cash flow, outweigh the costs for all parties involved in construction projects.
A closer look principal versus agent - finalHussainMunshi2
The document discusses key considerations around assessing whether an entity is acting as a principal or agent under IFRS 15. IFRS 15 introduced a control-based model that differs from the risks-and-rewards approach in IAS 18. While the principal-versus-agent indicators are similar, conclusions reached under IFRS 15 may differ due to its focus on when the entity obtains control of goods or services. Proper evaluation requires judgment and considering whether the entity's promise is to provide the good or service itself or arrange for a third party to provide it.
Materi Workshop Legal Due Diligence (LDD) yang di selenggarakan oleh EMLI Training. Materi di sampaikan oleh Bapak Dendi Adisuryo, beliau adalah Partner at ADCO Attorneys at Law.
Dan Haynes Government Contract Accounting Updatedanhaynes
This document discusses government contract accounting and compliance requirements. It provides an overview of the Federal Acquisition Regulation (FAR) which governs federal contracts. Key parts of the FAR discussed include cost accounting standards, cost principles, and business ethics compliance. The document also summarizes a study on economic crimes in the aerospace and defense industry which found that a third of companies reported crimes in the last two years.
How to Raise Seed Funding for Your Startup: Convertible Notes and SAFEsideatoipo
Seed financings enable a startup to put together its initial team, build a working prototype, and begin to test the market. Often these investments are made via convertible debt or SAFEs. Veteran Silicon Valley startup and corporate attorney Jason Putnam Gordon will cover the following topics:
Required corporate structure
Legal considerations when pitching investors for seed financing
Differences between using convertible debt and SAFEs
Key terms and considerations when raising seed funding
Common mistakes and pitfalls that companies make when raising seed funding via convertible debt and SAFEs
How to close your seed financing
Important post-closing tasks
And much, much more
This document provides an overview of cost proposal development for government contracts. It discusses reading the RFP thoroughly, determining what types of costs are allowable, and pricing direct costs based on verifiable sources. It also explains how to categorize costs as direct, indirect, or unallowable and how to establish indirect cost rates. The document cautions against common mistakes like inconsistencies in the proposal and lack of supporting documentation. It concludes with information on DCAA audits and upcoming seminars.
This document discusses considerations for working with partners in a business partnership. It covers potential partner contributions, partnership agreements, negotiations, determining partner value, buy-sell agreements, capital contributions, control, decision making, dispute resolution, duties, and negotiations. Key points include determining the value partners bring through client relationships and skills, drafting comprehensive partnership agreements, and planning for contingencies like partner exit or dissolution.
This document discusses the intersection of business law and bankruptcy. It provides an overview of bankruptcy law concepts including different chapters of bankruptcy, the automatic stay, treatment of secured and unsecured claims, executory contracts, leases, sales of property, and plan confirmation. It also discusses how various business situations could intersect with bankruptcy law, such as when a business, vendor, customer or owner experiences financial troubles. Key areas of focus are reviewing cash flow and debt structure, analyzing claims and contracts, and understanding opportunities to purchase debtor assets.
This talk describes the representations and warranties clauses in a typical business purchase contract, the clauses limiting time in which such clauses may be enforceable, the dollar limits on same, and other non-contract ways to enforce your deals, such as reps and warranties insurance, fraudulent transfer litigation, arbitration, and suits against negligent deal intermediaries
Similar to Latest issues in revenue recognition - presented by McGladrey at December 2011 EEI Conference on Advanced SEC/FASB Reporting and Compliance Conference
IFRS-15 Updated(Amendment in 2020) .pptxarifnizam4
IFRS 15 establishes principles for reporting useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with a customer. The standard introduces a five-step model for revenue recognition: 1) identify the contract, 2) identify separate performance obligations, 3) determine the transaction price, 4) allocate the transaction price, 5) recognize revenue when performance obligations are satisfied. Revenue is recognized when control of goods or services is transferred to the customer. The amount recognized is the amount allocated to the satisfied performance obligation.
Revenue from Contracts with Customers- Tom EisemanDecosimoCPAs
The document provides an overview of the new revenue recognition standard, including the objective to depict the transfer of goods or services to customers in an amount that reflects the consideration the entity expects to receive. It discusses the five-step model to 1) identify contracts with customers, 2) identify separate performance obligations, 3) determine transaction price, 4) allocate price to obligations, and 5) recognize revenue when obligations are satisfied. It also covers transition methods, qualitative disclosures required, and some key disclosure requirements for nonpublic companies.
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
What is the Impact of the New Standard on the Intermediate Accounting Course?Cengage Learning
The document discusses the new revenue recognition standard issued by the FASB and IASB in 2014. It summarizes the core principle of the new standard which is to recognize revenue when control of goods or services are transferred to a customer. It outlines the 5-step model for revenue recognition which includes identifying performance obligations, determining transaction price, allocating price to obligations, and recognizing revenue when obligations are satisfied. The standard represents a principles-based approach to revenue recognition and is expected to impact how the topic is taught with a focus on the new 5-step model.
Annual update course covering:
IFRS 15 Revenue from Contracts with Customers
IFRS 16 Leases
IFRICs 22 Foreign Currency Transactions and Advance Consideration
IFRIC 23 Uncertainty over Income Tax Treatments
Amongst other updates to standards during the past year.
The document summarizes the key aspects of the new revenue recognition standard issued in May 2014 that will go into effect for public companies in 2017 and non-public companies in 2018. It outlines the overarching principles of the new standard, which include identifying separate performance obligations in a contract, determining the transaction price, allocating the price to obligations, and recognizing revenue when obligations are satisfied. It also discusses implementation considerations and required disclosures under the new standard.
FASB Proposals Affecting Government ContractorsDecosimoCPAs
Robert Belcher and Ken Conner co-presented this PowerPoint at the 2012 RocketCity GovCon Conference hosted by Solvability in Huntsville, Ala. on Sept. 20, 2012.
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
IFRS 15 Revenue from Contracts with Customerssilsarthur91
In May 2014, almost 12 years since the work begun, the new standard on revenue recognition IFRS 15 Revenue from Contracts with Customers was published. The aim of this article is to present the key aspects of the new revenue recognition in a light and accessible way as well as to help in systematic preparation for the upcoming changes.
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.
This document provides an overview of BFRS 15 (Revenue from Contracts with Customers), including key definitions, the 5-step model for recognizing revenue, and disclosure requirements. It summarizes the major changes from earlier standards, scope and entities covered by BFRS 15. The 5-step model is explained as identifying contracts and performance obligations, determining transaction price, allocating price to obligations, and recognizing revenue when obligations are satisfied. Requirements for disclosing contract balances, disaggregating revenue, and other transaction price related items are also summarized.
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.
The document provides an overview of corporate mergers and acquisitions (M&A), including considerations in M&A transactions, the current state of the market, general concepts, and the transaction process timeline. It also discusses accretion/dilution analysis and adjustments that are made to the income statement for stock-for-stock and cash-for-stock acquisitions, such as accounting for new shares issued, debt financing, synergies, and other transaction-related impacts.
Ind AS 115 Revenue from Contracts with Customersnitish aggarwal
Ind AS 115 provides principles for recognizing revenue from contracts with customers and will supersede Ind AS 11 and Ind AS 18. It outlines a five-step model for recognizing revenue that includes identifying the contract with the customer, identifying separate performance obligations, determining the transaction price, allocating the transaction price, and recognizing revenue when performance obligations are satisfied. The standard provides more specific guidance and requires significantly more disclosures. Technology and telecom companies are expected to be most impacted as it will change how they recognize revenue from bundling of services. India is considering deferring adoption of Ind AS 115 to allow more time for consultation and clarification.
Baker Tilly Presents: New to Cost Reimbursement Contracts? Meet Your New Frie...BakerTillyConsulting
Presented at NCMA's World Congress 2016
Presenters: Baker Tilly's Brent Calhoon, CPA, Partner and Jennifer Flickinger, Partner
The world of cost reimbursement contracts has many exciting twists and turns. Contractors have to be ready to tackle the roller-coaster ride that comes with these complex contracts. This session provides an overview of some of the strict regulatory requirements that come into play as contract value and risk increase. The presenters will touch on the business system criteria, annual cost reporting requirements, the Cost Accounting Standards, and more. www.bakertilly.com/governmentcontractors
This document defines key terms related to revenue recognition under IFRS 15, including revenue, contracts, contract assets and liabilities. It then summarizes the 5-step model for recognizing revenue: 1) identify the contract, 2) identify separate performance obligations, 3) determine transaction price, 4) allocate price to obligations, 5) recognize revenue when obligations are satisfied. Examples are provided for determining variable consideration, allocating transaction price, and principal vs agent considerations. Revenue is recognized over time if criteria are met, otherwise at a point in time.
This document discusses revenue recognition under IFRS 15. It outlines the key concepts including identifying performance obligations in a contract, determining transaction price, allocating price to obligations, and recognizing revenue when obligations are satisfied. Revenue is recognized over time if control transfers continuously as goods/services are provided, which can be measured using output or input methods. The document also covers various types of contracts and scenarios that require special consideration, such as principal vs agent relationships, repurchase agreements, consignments, and bill-and-hold arrangements. It concludes with the presentation and disclosure requirements related to contracts with performance obligations satisfied over time.
This document discusses IFRS 15, the new revenue recognition standard. It outlines the 5-step model for recognizing revenue: 1) identify contracts; 2) identify performance obligations; 3) determine transaction price; 4) allocate price to obligations; 5) recognize revenue when obligations are satisfied. Revenue is recognized when control of goods/services transfers. It provides examples of applying the standard to sales of goods and services over time.
This document provides an overview of critical terms that should be addressed in sales agreements between startups acting as suppliers and their customers. It discusses key issues like payment terms, exclusivity clauses, liability caps, data privacy requirements, and assignability that can impact a startup's cash flow, costs, revenue recognition, and valuation. The document emphasizes that startups should aim to negotiate terms that are favorable to their business like net 30 payment schedules and limiting customer rights around exclusivity, liquidated damages, and assignment without consent.
The document discusses new revenue recognition standards issued by the FASB and IASB. The key changes include:
1) Revenue is recognized when control of goods or services is transferred to the customer, rather than when risks and rewards transfer.
2) The transaction price captures all variable consideration, which is estimated and updated each period.
3) Explicit criteria require a contract with a customer and identification of separate performance obligations before revenue can be recognized.
4) Disclosures provide more useful information about contracts with customers.
Similar to Latest issues in revenue recognition - presented by McGladrey at December 2011 EEI Conference on Advanced SEC/FASB Reporting and Compliance Conference (20)
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
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.
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
Knowledge Congress Revenue Recognition Webcast - Sep. 5, 2012Brian Marshall
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.
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.
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.
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
How to Implement a Real Estate CRM SoftwareSalesTown
To implement a CRM for real estate, set clear goals, choose a CRM with key real estate features, and customize it to your needs. Migrate your data, train your team, and use automation to save time. Monitor performance, ensure data security, and use the CRM to enhance marketing. Regularly check its effectiveness to improve your business.
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...my Pandit
Dive into the steadfast world of the Taurus Zodiac Sign. Discover the grounded, stable, and logical nature of Taurus individuals, and explore their key personality traits, important dates, and horoscope insights. Learn how the determination and patience of the Taurus sign make them the rock-steady achievers and anchors of the zodiac.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
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Structural Design Process: Step-by-Step Guide for BuildingsChandresh Chudasama
The structural design process is explained: Follow our step-by-step guide to understand building design intricacies and ensure structural integrity. Learn how to build wonderful buildings with the help of our detailed information. Learn how to create structures with durability and reliability and also gain insights on ways of managing structures.
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Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
Know what your zodiac sign says about your taste in food! Explore how the 12 zodiac signs influence your culinary preferences with insights from MyPandit. Dive into astrology and flavors!
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Use our simple KYC verification guide to make sure your Binance account is safe and compliant. Discover the fundamentals, appreciate the significance of KYC, and trade on one of the biggest cryptocurrency exchanges with confidence.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
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