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Webinar Recording

Are You Ready for the New Revenue Recognition Accounting Standard?

Date: Tuesday, November 15, 2016
Time: 2:00 pm - 3:00 pm EST

Resource
11.15_Oracle.pdf762.84 KB
Compliance with the new ASC 606 / IFRS 15 Revenue from Contracts with Customers accounting standard is just around the corner. The new standard introduces significant changes regarding how revenue is recognized, and therefore the risk of revenue-related challenges and restatements is almost certain to increase.

Many organizations have come to terms with the looming changes and recognize the daunting task of interpreting the complex standard, assessing its impact to their organization, and implementing the rules. However, many other organizations have still not accepted that clinging to the soon-to-be-superseded accounting rules is not compliance. They are finding it very hard to let go of deferred revenue and replace it with something as seemingly obscure as recording performance obligation liabilities for goods and services to be delivered to customers.

Join our panel as they explain during the webinar what companies are doing to prepare for compliance with the standard so they can have confidence in their reported revenue. Also learn how you can manage the complexity of the standard, gain real time insight by automatically managing your performance obligations lifecycle, and reduce the risk of non-compliance by using rules-based administration of the accounting standard.
After attending this event you will be able to:
Articulate a deeper understanding of the new ASC 606 / IFRS 15 accounting standard
Utilize best practices to assess the standard’s impact to your business
Accelerate your preparation for compliance with the standard
Understand how to manage the complexity of the standard and ensure compliance

Speakers

Seamus Moran, Senior Director, Oracle Financials Development, Oracle Corporation
Seamus Moran
Senior Director, Oracle Financials Development, Oracle Corporation
Seamus monitors accounting compliance worldwide (US GAAP, IFRS, transaction regulations, currency adoptions). He also discusses with customers and partners how Oracle product can be deployed to best deliver accounting compliance.

Recently, Seamus has been helping prepare Revenue Management, designed expressly to help you comply with ASC 606 and IFRS 15 both on the Cloud and in EBS.

Seamus joined Oracle Development in 1996, after a 25 year career in corporate and local controllership and external reporting in several European countries and in the USA. He did his public accounting in London, and his CPA in California.
Lara Deen, Vice President and Strategic Process Owner for Global Revenue Recognition, Oracle Corporation
Lara Deen
Vice President and Strategic Process Owner for Global Revenue Recognition, Oracle Corporation
Lara Deen is the Vice President and Strategic Process Owner for Global Revenue Recognition at Oracle Corporation, one of the largest technology companies in the world with over $30B in annual revenue. Lara joined Oracle over 17 years ago as an analyst in Oracle’s finance organization and now leads a team of over 90 professionals across 8 shared service centers in the US, EMEA, Asia, Romania, India, and China. She has a broad knowledge of finance, accounting, revenue recognition, mergers & acquisitions, and a proven track record of leading high risk functions and high touch and high performance teams through massive corporate growth and change. Lara reports to Corey West, Oracle’s Chief Accounting Officer.

Prior to joining Oracle, Lara worked as a CPA in audit and assurance for PriceWaterhouse Coopers. She graduated from Chico State University with a BS in Business Administration with an emphasis in Accounting and Management Information Systems.

Lara is also a mom to two beautiful young children, Caleb and Ella.
Gourav Rathi, Manager, Deloitte Consulting LLP
Gourav Rathi
Manager, Deloitte Consulting LLP
Gourav is a cocreator of Deloitte’s RevenuePrint methodology which is designed to help companies adopt the ASC 606 standards enabled with Oracle Revenue Management Cloud. Recently, Gourav has been helping one of the biggest technology companies to adopt the ASC 606 rules. He has also delivered multiple road shows to help companies’ understand the impact of new rules and preparing for system implementations to adopt ASC 606.

Gourav is an MBA in finance and implemented oracle financial solutions for multiple fortune 500 companies across multiple geographies and is currently based out of Dallas.
Irene Truong, Advisory Manager, Financial Accounting & Reporting Transformation, Deloitte & Touche LLP
Irene Truong
Advisory Manager, Financial Accounting & Reporting Transformation, Deloitte & Touche LLP
Irene is an Advisory Manager in the Financial Accounting & Reporting Transformation practice of Deloitte & Touche LLP. She specializes in supporting businesses through ASC606 accounting solution implementations. Irene assists companies with the compilation of accounting use cases, business requirements, vendor selection, initial functional designs, and business readiness activities. Irene has worked as a liaison between IT and Accounting to align and build a comprehensive project plan for successful implementations. Irene is a core member of Deloitte’s ASC606 transition initiative, namely REVENUEPrint; and has been involved with creating ASC606 adoption methodologies and the leading practice implementation framework.
Moderated by: Lindsey Smith, Senior Project Manager, Argyle Executive Forum
Moderated by: Lindsey Smith
Senior Project Manager, Argyle Executive Forum
Lindsey is the Senior Project Manager and Manager of Event Production for Argyle Executive Forum’s growing virtual division. She has been with Argyle since 2011 as a part of the Meeting Management & Operations team.

Prior to Argyle, Lindsey worked for ARAMARK in various locations and capacities – most recently as the Assistant Concessions Manager at the Oakland Coliseum.

A Virginia native, Lindsey holds a Bachelor of Business Administration degree with a concentration in Hospitality & Tourism Management from James Madison University and a minor in Exceptional Education. She is based in Texas.

Sponsor

Event Sponsor Oracle
Oracle - Oracle Corporation (NASDAQ: ORCL) is the world's largest enterprise software company. With the market-leading Hyperion enterprise performance management suite, world class financial applications, and integrated governance, risk and compliance solutions Oracle helps finance executives maximize potential and deliver results for their organizations.

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