Revenue Recognition EITF 08-01 and 09-03: Regulatory Update and Implementation Considerations

Learning Objectives

After attending this event you will be able to:

• Identify new, critically important revenue recognition regulations involving EITF 08-01 and 09-03 (now ASU 2009-13 and -14)

• Associate how these regulations will impact U.S. corporations with your company’s revenue recognition, and what you can do to prepare for adoption of these regulations

• Create useful connections with service providers who can help assess a company’s readiness to address the new regulations and help you implement needed changes

• Establish Professional Connections with fellow finance and accounting professionals

Details

EITF 08-01 and 09-03 significantly alter the revenue recognition regulations for multi-element deals and software deals. This seminar will review the effects of the recent changes in revenue recognition regulations. Content will include: a detailed review of ASU 2009-13 and 14; a discussion about VSOE, Third Party Evidence (TPE) and Estimated Selling Price (ESP); a review of how companies can chart a path to conversion and compliance. There will also be a discussion of how the new regulations and IFRS will come together down the road.

Additional Information

Proformative is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site:
www.nasba.org

Agenda

We respect your busy schedule and have created a quick, information-rich agenda. Register for this event.

Speakers

Steve Hobbs, Managing Director, Protiviti Steve is a Managing Director in the San Francisco office of Protiviti, Inc. and leads Protiviti's Finance Remediation & Reporting Compliance practice in the west region. He also leads Protiviti's IFRS and Public Company Readiness solutions in North America. Prior to joining Protiviti in 2006, Steve was a Partner at KPMG for three years and spent over 20 years at Arthur Andersen. He has served on numerous boards and in addition to his current responsibilities at Protiviti, serves on the board of directors for two companies — one as Chairman and one as Audit Committee Chair. Steve provides valuable oversight and advice to Protiviti clients, particular board of directors and senior management. He assists executive management and company finance leaders develop and implement processes to address changes and risks surfacing from new financial accounting requirements, historical application of standards or unique business transactions that provide challenges in financial reporting functions. He has recently consulted with several company board and management teams in dealing with IFRS convergence, stock based compensation issues, IPO preparation, SEC investigations, acquisitions, revenue recognition issues, financial restatements, and control rationalization efforts. Steve earned his Graduate and Undergraduate Degrees from the Marriott School of Management, Brigham Young University.

John Kogan, CEO, Proformative John has been CFO at four technology companies, a finance executive at Cardinal Health, and in multiple roles at AlliedSignal and Cisco Systems. John has raised over $100M in equity capital and debt and has played central roles in numerous buy and sell-side transactions for both public and private companies. As COO at two companies, John also ran Engineering, Manufacturing and Customer Service operations. He has also founded, invested in and been a board member or advisor of a number of companies. John has a B.A. in Economics from Connecticut College and an MBA from the Fuqua School of Business at Duke University.

David C. Lee, CPA, Partner, Peterson Sullivan LLP  Mr. Lee has over 30 years of public accounting experience. Now a Peterson Sullivan audit partner, David became of Certified Public Accountant in 1982 while he was an auditor with a national CPA firm in Nevada. He transferred to their Seattle office in 1988 and three years later came to Peterson Sullivan. Eventually, David moved on to acquire another firm, but returned to Peterson Sullivan as a partner in 2000. Throughout his career, David has worked with small and mid-sized publicly traded and privately held companies, including high tech, casinos and hotels, construction contractors, land developers, manufacturers, development stage companies, and nonprofits, among others. David has served on various nonprofit boards, including the Northwest Chamber Orchestra, Community Enterprises of Issaquah, Big Brothers of King and Clark Counties, Eastside Advisory Board, and North Issaquah Little League. David received his B.S. in Business Administration from the University of Nevada, Las Vegas, 1979.

Jim McGeever, COO, NetSuite  Mr. McGeever has more than 20 years of finance and accounting experience in the high-tech industry. Leveraging his experience in working with companies through successful IPOs, he spearheads the initiatives in finance and accounting as CFO for NetSuite. Before joining NetSuite, he was the controller of Clontech Laboratories, Inc., a privately held biotechnology company that was acquired by Becton Dickinson. He was also the corporate controller at Photon Dynamics, Inc., a capital equipment maker. While at Photon Dynamics, he helped the company through a successful IPO in 1994. He qualified as a chartered accountant and previously worked at Ernst & Young. He has a B.Sc. from the London School of Economics.

About the Sponsors and Participating Companies

Our sponsors are respected, global entities with the people and experience to help you with every element of your company's Cloud Computing program. Register for this event.

Adaptive Planning is the worldwide leader in on-demand financial planning and reporting solutions that improve operational efficiency, strengthen companywide collaboration, and drive better business decisions in companies of all sizes. Adaptive Planning makes it easy to move beyond spreadsheets and automate budgeting, forecasting, reporting, and "what-if" analysis, without the cost and complexity associated with traditional business intelligence and BPM software. With free software, free trials, and both on-demand and on-premise deployment options, Adaptive Planning is the fastest and easiest way for finance organizations to enhance their agility and strategic value.

Founded in 1998, NetSuite Inc. (NYSE: N) is the leading provider of cloud computing business management software suites for growing and mid-size businesses. Thousands of customers globally use NetSuite's online products and professional services to manage all key business operations—including customer relationship management (CRM), order fulfillment, inventory, accounting/ERP and finance, product assembly, ecommerce, website management and employee productivity—in a single web-based system.

Peterson Sullivan is one of the largest CPA firms in the Pacific Northwest with over 80 professionals to provide expertise in accounting, auditing, comprehensive tax services, and business valuation for publicly traded companies, closely held businesses, private individuals, nonprofits, and auto dealerships throughout the region.

Protiviti is a global business consulting and internal audit firm composed of experts specializing in risk, advisory and transaction services. The firm helps solve problems in finance and transactions, operations, technology, litigation, governance, risk, and compliance. Protiviti's highly trained, results-oriented professionals provide a unique perspective on a wide range of critical business issues for clients in the Americas, Asia-Pacific, Europe and the Middle East.

About the Host:

Proformative is the free and open resource for corporate finance, accounting, treasury, and related professionals. www.proformative.com