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Webinar Recording

How the New Revenue Recognition Guidelines Impact Budgeting and Planning

Date: Thursday, September 8, 2016
Time: 2:00 pm - 3:00 pm EDT
New rules governing revenue recognition for contracts will go into effect for most companies in 2018. Companies that use even moderately complex contracts in their dealings with customers will find that in addition to changes in an organization’s contracting and accounting, also will need to examine their planning and budgeting processes. For some, the time lag between when a contract is signed and when a company recognizes revenue from it may be more variable and less predictable than in the past, meaning that performance measured by financial accounting will diverge materially from the “real” economic performance of the organization. Consequently, executives will need the ability to look at their plans from both perspectives and be able to distinguish between the two in assessing their company’s performance.

We will discuss how to:
  • Recognize if your company will need to make changes to its planning and budgeting processes when the new rules go into effect.
  • Understand what will drive meaningful timing differences between economic and financial accounting measures of revenue.
  • Begin to identify some of the techniques your organization can adopt to deal with timing difference.
  • See why desktop spreadsheets are a poor choice for managing forecasting, planning, budgeting and review cycles in companies where there are material timing differences.
After attending this event you will be able to:
Recognize if your company will need to make changes to its planning and budgeting processes when the new rules go into effect.
Understand what will drive meaningful timing differences between economic and financial accounting measures of revenue.
Begin to identify some of the techniques your organization can adopt to deal with timing difference.
See why desktop spreadsheets are a poor choice for managing forecasting, planning, budgeting and review cycles in companies where there are material timing differences.

Speakers

Robert Kugel, SVP & Research Director, Ventana Research
Robert Kugel
SVP & Research Director, Ventana Research
Rob heads up the CFO and business research focusing on the intersection of information technology with the finance organization and broader business applications. The financial performance management (FPM) research agenda includes the application of IT to financial process optimization and collaborative systems; control systems and analytics; and advanced budgeting and planning. Rob also covers the areas of GRC and Sustainability that span across business and IT. Prior to joining Ventana Research he was an equity research analyst at several firms including First Albany Corporation, Morgan Stanley, and Drexel Burnham, and a consultant with McKinsey and Company. Rob was an Institutional Investor All-American Team member and on the Wall Street Journal All-Star list. Rob has experience in aerospace and defense, banking, manufacturing and retail and consumer services. Rob earned his BA in Economics/Finance at Hampshire College, an MBA in Finance/Accounting at Columbia University, and is a CFA charter holder.
Derek Hazelwood, Financial Analyst, Interactive Intelligence
Derek Hazelwood
Financial Analyst, Interactive Intelligence
Derek works with a talented group of individuals at Interactive Intelligence as part of the company's budgeting and reporting team. The team is responsible for managing global budgets across all of the company's departments, as well as for producing recurring and ad hoc management reports.
John O'rourke, Vice President, Host Analytics
John O'rourke
Vice President, Host Analytics
John O’Rourke is Vice President of Product Marketing at Host Analytics. With a background in accounting and finance, John has over 30 years of experience in the software industry, and over 16 years of experience in EPM Product Marketing at Hyperion Solutions and Oracle. He has worked with many customers and partners on financial reporting and planning initiatives and has spoken and written on many topics in enterprise performance management. John has also held positions in strategic marketing and product marketing at Dun & Bradstreet Software, Kenan Systems and Decisyon. John has a BS degree in accounting from Bentley University and an MBA from Boston College.
Moderated by: Khoa Tran, Operations Manager, Proformative
Moderated by: Khoa Tran
Operations Manager, Proformative
Khoa is in charge of live event operations at Proformative and has led the preparation and execution of hundreds of live events on various finance, accounting and related topics across the Office of the CFO. You could say his job is a lot like learning finance and accounting for a living. Khoa is primarily responsible for ensuring great content, delivery, and learning for each of Proformative’s webinars and in-person events.

Sponsor

Event Sponsor Host Analytics
Host Analytics - Host Analytics is the leader in cloud-based financial applications for planning, consolidation, reporting and analytics. Host Analytics enterprise performance management (EPM) customers benefit from improved business agility, improved security, and lower overall cost compared to legacy on-premises alternatives. World-class companies like NEC, Burlington Coat Factory, and Crocs trust Host Analytics to power their strategic financial processes. Host Analytics is a fast-growing, private company backed by leading venture capitalists and is headquartered in Silicon Valley with offices around the globe.

Certification is not required to get started, but please let us know which certifications you have.

By filling out this form you will become a member of Proformative, and are subject to Proformative's User Agreement. This webinar is provided to you for free by the sponsor, who may contact you later.

Continuing Education Information

Certified Public Accountant

  • Continuing Education Credit
    1 CPE Credit
  • Field of Study
    Finance
  • CPE Delivery Method
    Group-Internet
  • Program Location
    Online
  • Program Level
    Basic
  • Prerequisites
    No advanced preparation or prerequisites are required for this course.
More information about CPE Credits

Continuing Professional Development

  • Continuing Education Credit
    1 Hour
  • Field of Study
    Finance
  • CPE Delivery Method
    Group-Internet
  • Program Location
    Online
More information about Hours

Certified Management Accountant

  • Continuing Education Credit
    1 CE Credit
  • Field of Study
    Finance
  • CE Delivery Method
    Group-Internet
  • Program Location
    Online
  • Program Level
    Basic
  • Prerequisites
    No advanced preparation or prerequisites are required for this course.
More information about CE Credits