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  • Entertainment & Media - Revenue Recognition Webcast Replay & Industry Supplement - June 16, 2014
    Netherlands Russia Singapore South Africa South Korea Spain Sweden Switzerland United Kingdom United States Complete list of PwC territory sites Entertainment Media Revenue Recognition Webcast Replay Industry Supplement June 16 2014 Webcast details Note For the latest developments on the new FASB revenue recognition standard please visit the CFOdirect revenue recognition page As part of our webcast series on the new Revenue Recognition standard we invite you to join us for an expanded discussion on the specific impacts the new standard will have on the Entertainment Media sector While the new standard will impact companies broadly there are particular implications to Entertainment Media companies that deserve focus as companies plan for implementation PwC presenters Entertainment Media sector specialists Moderator Stefanie Kane Partner Sector Assurance Leader Bob Barrett Partner National Quality Organization Bud Swartz Partner Sector Assurance Richard Veysey Partner Capital Markets and Accounting Advisory Watch this recorded webcast Download our Entertainment Media industry supplement Who should attend Entertainment Media industry accounting finance and internal audit professionals including titles such as Chief Accounting Officers CAOs Chief Financial Officers CFOs Controllers Directors of Finance Chief Audit Executives CAEs SOX Compliance Directors Internal Audit Directors General Counsel members of the Board of Directors and the managers and staff in these functions Contact Erin Daylor CPE credit Participation in the live webcast qualifies for approximately 1 Accounting CPE credit Please note that CPE credit can only be given to individuals who remain logged into the LIVE webcast and respond to the polling questions provided during the webcast If you are viewing this webcast in a group everyone in the group can receive CPE Credit Also those who dial in via telephone are NOT eligible for CPE credit Please note that this is a NASBA not PwC requirement If you have any questions concerning continuing

    Original URL path: http://www.pwc.com/us/en/cfodirect/multimedia/webcasts/revenue-recognition-entertainment-media-webcast-june-16-2014.html (2016-02-10)
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  • Revenue Recognition Webcast & Industry Supplement - Engineering & Construction: PwC
    Sweden Switzerland United Kingdom United States Complete list of PwC territory sites Revenue Recognition Webcast Industry Supplement Engineering Construction Webcast details Note For the latest developments on the new FASB revenue recognition standard please visit the CFOdirect revenue recognition page On May 28 2014 the FASB and IASB issued their long awaited converged standard on revenue recognition There are potentially significant changes coming for certain industries including engineering and construction and some level of change for almost all entities Some of the areas that could create the most significant challenges for entities as they transition to the new standard include transfer of control variable consideration allocation of transaction price based on relative standalone selling price licenses time value of money contract costs and disclosures Additionally the potential impacts go beyond revenue recognition such as required enhancements to information technology systems potential tax implications as well as a likely impact on certain operational areas e g those negotiating and drafting contractual agreements The new standard will affect most entities that apply U S GAAP or IFRS Entities that currently follow industry specific guidance should expect the greatest impact Watch this recorded webcast Download our E C industry supplement Who should attend Chief Financial Officer Chief Risk Officer Finance Director Manager Staff Risk Management Director Manager Staff Contact Diana Garsia CPE credit Participants of the live webcast will be eligible for 1 CPE credit Please note that CPE credit can only be given to individuals who remain logged into the LIVE webcast and respond to the polling questions provided during the webcast If you are viewing this webcast in a group everyone in the group can receive CPE Credit Also those who dial in via telephone are NOT eligible for CPE credit Please note that this is a NASBA not PwC requirement

    Original URL path: http://www.pwc.com/us/en/cfodirect/multimedia/webcasts/engineering-construction-industry-webcast-on-revenue-june-25.html (2016-02-10)
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  • Revenue Recognition Webcast & Industry Supplement - Pharmaceutical and Life Sciences Companies: PwC
    Mexico Middle East Netherlands Russia Singapore South Africa South Korea Spain Sweden Switzerland United Kingdom United States Complete list of PwC territory sites Revenue Recognition Webcast Industry Supplement Pharmaceutical and Life Sciences Companies Webcast details Note For the latest developments on the new FASB revenue recognition standard please visit the CFOdirect revenue recognition page Join PwC s Pharmaceutical and Life Sciences Industry Group for a webcast focused on the long awaited Revenue Recognition standard We will discuss the standard and considerations relevant to this industry Watch this recorded webcast Download our P LS Industry Supplement The webcast will feature Changes to Revenue Recognition Key changes to accounting for revenue and how this impacts your company PLS Specific Issues Changes to revenue recognition that are specific to the PLS industry including licenses of intellectual property milestones royalties collaborations with customers licenses returns discounts incentives customers with credit risk and sell in vs sell through considerations Impact on Business Operations Understanding the business and operational implications Implementing the Standard What to do next to prepare for the new standard including our views on how to set up your implementation plan Who should attend CFOs CIOs controllers finance directors business unit finance and other financial reporting functions Contact Meredith Berger CPE credit Participation in the live webcast qualifies for approximately 1 5 CPE credits Please note that CPE credit can only be given to individuals who remain logged into the LIVE webcast and respond to the polling questions provided during the webcast If you are viewing this webcast in a group everyone in the group can receive CPE Credit Also those who dial in via telephone are NOT eligible for CPE credit Please note that this is a NASBA not PwC requirement If you have any questions concerning continuing professional education CPE you

    Original URL path: http://www.pwc.com/us/en/cfodirect/multimedia/webcasts/revenue-recognition-pharma-life-sciences-webcast-june-25-2014.html (2016-02-10)
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  • Revenue Recognition Webcast & Industry Supplement - Retail & Consumer - July 24, 2014 - PwC
    United States Complete list of PwC territory sites Revenue Recognition Webcast Industry Supplement Retail Consumer July 24 2014 Webcast details Note For the latest developments on the new FASB revenue recognition standard please visit the CFOdirect revenue recognition page The FASB and IASB issued their long awaited converged standard on revenue recognition on May 28 2014 There are potentially significant changes coming for certain industries including retail and consumer companies and some level of change for almost all entities Watch this recorded webcast Thursday July 24 2014 12 00 PM to 1 30 PM EDT Download our R C industry supplement This webcast will feature Changes to Revenue Recognition Key changes to accounting for revenue and how this impacts your company R C Specific Issues Changes to revenue recognition that are specific to the R C sector including customer incentives volume discounts and rebates loyalty programs gift cards licenses and royalties returns FOB synthetic shipping Tax Implications Understanding the potential tax implications as a result of implementing the new standard Impact on Business Operations Understanding the business and operational implications Implementing the Standard What to do next to prepare for the new standard including our views on how to set up your implementation plan Who should attend CFOs CIOs controllers finance directors tax directors and other financial reporting functions Contact Amie Hinderliter CPE credit Participants of the live webcast will be eligible for 1 CPE credit Please note that CPE credit can only be given to individuals who remain logged into the LIVE webcast and respond to the polling questions provided during the webcast If you are viewing this webcast in a group everyone in the group can receive CPE Credit Also those who dial in via telephone are NOT eligible for CPE credit Please note that this is a

    Original URL path: http://www.pwc.com/us/en/cfodirect/multimedia/webcasts/retail-consumer-industry-revenue-july-24-2014.html (2016-02-10)
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  • Technology industry - Revenue Recognition Webcast Replay & Industry Supplement - June 25, 2014
    Mexico Middle East Netherlands Russia Singapore South Africa South Korea Spain Sweden Switzerland United Kingdom United States Complete list of PwC territory sites Technology industry Revenue Recognition Webcast Replay Industry Supplement June 25 2014 Note For the latest developments on the new FASB revenue recognition standard please visit the CFOdirect revenue recognition page As part of our webcast series on the new Revenue Recognition standard we invite you to join us for an expanded discussion on the specific impacts the new standard will have on the Technology sector While the new standard will impact companies broadly there are particular implications to Technology companies that deserve focus as companies plan for implementation Watch this recorded webcast Download our Technology industry supplement PwC presenters Chris Smith Partner Capital Markets and Accounting Advisory Jay Seliber Partner National Professional Services Group Who should attend Technology industry accounting finance and internal audit professionals including titles such as Chief Accounting Officers CAOs Chief Financial Officers CFOs Controllers Directors of Finance Chief Audit Executives CAEs SOX Compliance Directors Internal Audit Directors General Counsel members of the Board of Directors and the managers and staff in these functions CPE credit Participation in the live webcast may qualify for 1 CPE credit in the area of Accounting If you have any questions concerning continuing professional education CPE you can find answers here to frequently asked questions concerning CPE webcast participation PwC overall Revenue Recognition webcast dates and times Please note that this industry tailored webcast supplements two other PwC webcasts that discuss the new standard as further listed below Information on webcast replay and additional resources are available on PwC s revenue recognition home page here Revenue Recognition How revenue recognition will change Thursday June 12 from 1 00 pm 2 00 pm Revenue Recognition What actions companies can

    Original URL path: http://www.pwc.com/us/en/cfodirect/multimedia/webcasts/revenue-recognition-technology-webcast-june-25-2014.html (2016-02-10)
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  • Revenue Recognition Webcast Series On demand (CPE-eligible) – PwC
    Revenue Recognition series Watch a replay or participate in our on demand CPE eligible two part webcast series where we discuss the new Revenue Recognition Standard in detail and help you understand the pervasive business implications as well as what companies can do to prepare for implementation of the new standard Access our CPE eligible on demand versions at your convenience A post event questionnaire when completed qualifies participants for 1 5 CPE credits same as the live version Additionally we expand our discussion with a series of industry specific webcasts that look at the impact the new revenue recognition standard will have on various industry sectors Part 1 Revenue recognition How revenue recognition will change In the June 12 webcast we discuss the Revenue Recognition standard in detail focusing on how the new guidance may affect how and when your company recognizes revenue Watch this recorded webcast On demand CPE eligible version Part 2 Revenue recognition What actions companies can take to prepare In the June 19 webcast we help you understand the pervasive business implications as well as what companies can do to prepare for implementation of the new standard Watch this recorded webcast On demand CPE eligible version Watch a replay of our industry specific webcasts Aerospace defense industry Industry supplement available for download Communications industry Industry supplement available for download Engineering construction industry Industry supplement available for download Entertainment media industry Industry supplement available for download Pharmaceutical and life sciences industry Industry supplement available for download Retail consumer industry Industry supplement available for download Technology industry Industry supplement available for download Who should participate CFOs CIOs controllers finance directors business unit finance and other financial reporting functions Contact Assurance webcasts CPE credit Please note that CPE credit can only be given to individuals who remain logged

    Original URL path: http://www.pwc.com/us/en/cfodirect/multimedia/webcasts/revenue-recognition-webcast-series-2014.html (2016-02-10)
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  • Reporting revenue recognition — new model, new strategy? - PwC
    customers Now that the new revenue guidance is final a first step is assessing its impact on existing contracts and transactions It also means taking a close look at your business practices and go to market strategies and considering whether to make changes in light of the new rules An end to industry specific rules The new guidance eliminates much of the prescriptive and often industry specific guidance that exists today Companies currently following industry specific guidance such as software companies will see the biggest change These companies may also find that the new rules result in reported revenue that better reflects the economic substance of their transactions What s really changing The timing of revenue recognition will be similar to current practice for some transactions but you won t know for sure until you apply the new guidance to your company s specific circumstances One key difference is that revenue from contingent fees including performance bonuses or royalties might be recorded earlier as compared to today s model Other differences include new approaches for reporting fees from licensing intellectual property and capitalizing contract related costs Additionally the time value of money could affect the amount of revenue recorded for longer term contracts Beyond revenue the ripple effect Getting ready for the new guidance should be a cross functional effort Changes to the top line can have a broader impact on other areas of the business including income taxes and arrangements such as bonus plans commissions and debt covenants Some agreements may need to be adjusted or renegotiated to maintain their original intent What you can do now The first time public companies will apply the new guidance is 2017 However if you haven t already now is the time to assess its impact and prepare investors for potential changes

    Original URL path: http://www.pwc.com/us/en/cfodirect/publications/in-the-loop/new-revenue-recognition-standard.html (2016-02-10)
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  • Revenue Recognition Standard, ASC 606 - PwC
    by the Transition Resource Group TRG Comments on the FASB s proposal were due June 30 2015 An entity can apply the new revenue standard retrospectively including using certain practical expedients Alternatively an entity can choose to recognize the cumulative effect of applying the new standard to existing contracts in the opening balance of retained earnings on the effective date with proper disclosures During the FASB s Financial Accounting Standards Advisory Council meeting an SEC staff member indicated that the SEC will not object if companies that retrospectively adopt the revenue standard only recast the same years as presented in their primary financial statements in the five year selected financial data table i e a company will not need to recast the two earliest years However companies that choose this option should provide transparent disclosure regarding the basis of presentation and lack of comparability Existing revenue recognition guidance lacks consistency across industries and between US GAAP and IFRS and fails to address certain types of arrangements This new standard is aimed at reducing or eliminating those inconsistencies thus improving comparability and eliminating gaps in guidance The new standard will significantly affect the current revenue recognition practices of many companies particularly those that follow industry specific guidance under US GAAP We expect the Aerospace Defense Automotive Communications Engineering Construction Entertainment Media Pharmaceuticals Life Sciences and Technology industries to be impacted the most Depending on an entity s existing business model and revenue recognition practices the new standard could have a significant impact on the amount and timing of revenue recognition which in turn could impact key performance measures and debt covenant ratios and ultimately could affect contract negotiations business activities and budgets All entities will likely have to consider changes to information technology systems processes and internal controls as a result of the new decision points and increased disclosure requirements among other aspects of the model What s next for the new revenue recognition standard In July 2015 the IASB issued its package of proposed amendments to the new revenue standard in response to implementation issues raised by stakeholders and discussed by the TRG The IASB s proposal includes amendments to the guidance on accounting for licenses of intellectual property and the principal versus agent assessment gross versus net revenue presentation The IASB is also proposing additional practical expedients related to transition and amendments to the illustrative examples accompanying the new revenue standard Comments were due October 28 2015 In August 2015 the FASB issued its proposal related to the principal versus agent assessment which mirrors the IASB s principal versus agent proposal Comments were due October 15 2015 The boards expects to issue their final amendments in 2016 In September 2015 the FASB issued its proposal to amend the guidance on collectibility completed contracts at transition and noncash consideration and add new practical expedients for the presentation of sales taxes collected from customers and the accounting for contract modifications at transition Comments were due November 16 2015 The FASB is

    Original URL path: http://www.pwc.com/us/en/cfodirect/issues/revenue-recognition.html (2016-02-10)
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