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Life Science Accounting Update 2017
SAN JOSE
From technical accounting and revenue recognition new rules to cybersecurity and fraud, this conference will address the latest developments in key areas. You’ll hear from experts at the Big Four and regional firms.
LEARNING OBJECTIVES:
- Understand the latest accounting changes in key areas
- Recognize the timelines and key factors affecting the life science industry
- Begin to assess the effects of these standards on your company or clients
REGISTRATION INFORMATION:
Cost $995
We will email you a 25% off discount code for the hotel after registration
You can also register by phone 610 789-3110
or Email questions or to be invoiced to: mtarman@acslive.com
| Agenda: DAY 1 | ||
|---|---|---|
| 8:00 | 8:45 | Continental Breakfast and Registration |
| 8:45 | 10:15 | Accounting for Transactions Overview and Trends in the Environment Business vs Asset Applying VIE Model Accounting for Collaborations, Joint Ventures and R&D Funding Arrangements |
| 10:15 | 10:30 | Break |
| 10:30 | 12:00 | Technical Accounting Update Update on latest relevant developments, amendments and EITFs What Is the SEC staff looking for? Meaningful MD&A FASB Update Non-GAAP R&D Accounting Revenue and Return Reserves Hedge Accounting Gross to Net |
| 12:00 | 1:00 | Lunch |
| 1:00 | 2:20 | Leveraging Technology for Digital Transformation Where you land on the benchmark Attributes of successful digital business Reaction to digital disruption IT, Workforce and Security Transformation |
| 2:20 | 2:35 | Break |
| 2:35 | 3:40 | Tax Issues for Life Science Companies Recent Regulatory and Legislative Changes VAT R&D Tax Credits Global Incentives Common Pitfalls |
| 3:40 | 3:45 | Break |
| 3:45 | 5:00 | Valuation for Financial Reporting Fair value accounting Industry standards for valuation models Valuing R&D Projects Valuation and impairment of intangible assets |
| Agenda: DAY 2 | ||
|---|---|---|
| 8:45 | 10:15 | Revenue Recognition Accounting ASC 606 Impact on life science companies Summary of new standard Implementation considerations Key Areas of Impact |
| 10:15 | 10:20 | Break |
| 10:20 | 11:20 | Cybersecurity Phishing, Malware, Physical, Through Business Partners and Via New Technologies - Methods of Attack Who and why they are targeting your organization Trends in the industry |
| 11:20 | 12:30 | Accounting for Leases Main provisions of new standard vs. current guidance Identify financial statement presentation and disclosures required by the new rules Operational impact |
| 12:30 | 1:30 | Lunch |
| 1:30 | 2:35 | Legal Update Latest Hot Buttons Creative Financing Trends |
| 2:35 | 2:45 | Break |
| 2:45 | 3:50 | Commercial Launch Considerations Gross Revenue Net Revenue (Gross to Net) Balance sheet and income statement presentation Inventory/COGS Other: Tax, Compliance Reporting, Aggregate Spend, HIPAA, ERP |
| 3:50 | 4:45 | IPOs Recent Trends Accounting Considerations What's on tap |
| Conference Series Speakers Include: |
|---|
| Nathan Mitchell Deloitte & Touche Senior Manager in National Professional Practice |
| John McKenna Cooley Partner |
| Lauren Langford White Deloitte & Touche Audit and Assurance Senior Manager |
| Dan Coleman Ernst & Young Partner |
| Phil Howard Ernst & Young Partner |
| Michael VanderKlugt Deloitte & Touche
Audit Partner |
| Brad Schulte Deloitte & Touche
Senior Manager |
| Poonam Bhagchandani PwC
Director |
| Vibhor Chandra Ernst & Young class="line2">Senior Manager |
| Lauren McKay Deloitte & Touche Senior Consultant |
| James Bell KPMG
Managing Director |
| Shahid Khan KPMG
Manager |
| Kevin Dueck Deloitte & Touche Partner |
| Doug Halley Deloitte & Touche Partner |
| Zachary Weisbly PwC Senior Manager |
| Ousmane Caba PwC Senior Consultant |
| Jon Medina Protiviti Senior Manager in Security and Privacy |
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Revenue Recognition Accounting Update 2017
(ASC 606)
SAN JOSE
The new Revenue Recognition Standard has finally been issued. The new guidance standardizes how companies should recognize revenue under U.S. GAAP and IFRS. This conference will go through the new guidance and address the latest developments in key areas, significant changes, scope, disclosure and impacts. There will be plenty of examples and a detailed case study.
LEARNING OBJECTIVES:
- Review the latest changes in key areas
- Understand the big picture concepts from an SEC perspective
- Begin to assess the effects of the new standard on your company or clients
REGISTRATION INFORMATION:
Cost $995
We have a discount code for 25% off the room rate at the Dolce and will email you after registration.
Register any one of three ways:
1. Register online using a credit card and click the orange button
2. Register by phone at (610) 789-3110
3. Email your contact info to be invoiced to mtarman@acslive.com
| Agenda: DAY 1 | ||
|---|---|---|
| 8:00 | 8:45 | Continental Breakfast and Registration |
| 8:45 | 10:45 | Revenue Recognition: New Standard Lessons learned from the most recent amendments and EITFs Effective date and transition issues Scope of new standard and overviews |
| 10:45 | 11:00 | Break |
| 11:00 | 12:30 | Revenue Recognition: New Standard Key Areas and Examples Step 1: identifying the contract Step 2: identifying performance obligations Step 3: determine the transaction price Step 4: allocate the transaction price Step 5: recognizing revenue other provisions and implementation guidance |
| 12:30 | 1:30 | Lunch |
| 1:30 | 2:45 | Transition Issues What steps to take now Guidance on adjustments as business models evolve (i.e. cloud computing) Resulting changes to sales/operations/IT/accounting policies |
| 2:45 | 2:55 | Break |
| 2:55 | 4:00 | Commissions Preparing for commission accounting changes Estimating commission amortization Supporting audit requirements |
| 4:00 | 4:05 | Break |
| 4:05 | 5:05 | Revenue Recognition and Internal Controls ASC 606 Implementation project lifecycle Overview of the new rules from a control perspective Controls to consider External auditor considerations |
| Agenda: DAY 2 | ||
|---|---|---|
| 8:45 | 10:45 | ASC 606: Connecting the Dots Work through a comprehensive example of a transaction under ASC 606 using a simplified version of a checklist Fully interactive session Tackle the standard step by step |
| 10:45 | 11:00 | Break |
| 11:00 | 12:00 | Case Study Continued...Plus Discussion on Disclosures |
| 12:00 | 1:00 | Lunch |
| 1:00 | 2:15 | Revenue Recognition: Case Studies and Practical Examples Collectibility, Contingent Revenue, Sales to Distributors Performance Obligations Over Time, Elimination of VSOE for Software Residual Approach, Term Licenses, Time Value of Money... |
| 2:15 | 2:25 | Break |
| 2:25 | 3:35 | Tax Impact of the New Standard Tax Principle for revenue recognition Examples Other considerations Next steps |
| 3:35 | 4:30 | Implementation Observations Making revenue recognition manageable for those on the front lines Engaging in a dialogue: narrowing the gap between sales and accounting When and how to communicate issues of emerging importance |
| Conference Series Speakers Include: |
|---|
| Chelsea Leadem PwC, Manager |
| Chad Montgomery PwC, Manager |
| Donald Thomas KPMG, Director |
| Susan van Loon KPMG, Manager |
| Shea Malcolm Ernst & Young, Partner |
| Matt Svetich Effectus Group, Director |
| Mike Montgomery Effectus Group, Director |
| Shauna Watson RGP, Global Managing Director |
| Caroline Yan Connor Group, Senior Manager |
| Aleks Zabreyko Connor Group, Partner |
| Amanda McCarty Grant Thornton, Partner |
| Jessica Knott Grant Thornton, Partner |
| Maria Manojlovic PwC, Manager |
| Aruna Iyer PwC, Manager |