United States: Impact Of New Revenue Recognition Guidance On Software And Saas Companies
Last Updated: July 24 2014

Start Time: Aug 21, 2014 12:00 PM CT

End Time: Aug 21, 2014 1:00 PM CT

Event Type: Webcast, Technology, Software internet and IT, Audit, Revenue recognition

Recommended CPE Credits: 1 hour

Audience: Finance and accounting executives at software and SaaS companies

Contact: Libby Erker

Phone: 312.602.8446

Email: libby.erker@us.gt.com

The FASB, along with the IASB, issued ASU 2014-09, Revenue from Contracts with Customers, its new standard on revenue. ASC 605-25, Revenue Recognition: Multiple-Element Arrangements, and most of ASC 985-605, Software: Revenue Recognition, are now superseded and replaced by ASC 606, which applies to all software and SaaS arrangements.

Although the effective date for public companies is after Dec. 31, 2016, there are things that all organizations should be doing now to understand the new guidance and evaluate its impact. Join Grant Thornton LLP and TechAmerica for a CFO Insights webcast that will explain what this means for the software and SaaS industries including control transfer, contract assets and liabilities, multiple-element arrangements, allocation of arrangement consideration to performance obligations, contract costs and disclosures.

Learning objectives:

  • Explain the key features of ASC 606 that affect software and SaaS companies
  • Identify the impact of the new control-transfer model on the software and SaaS industries
  • Analyze the potential impact on timing of revenue recognition
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