Category Archives: Uncategorized
SEC Institute Makes a Splash at AICPA Conference in D.C.!
SEC Institute was delighted to participate in this week’s AICPA Conference on Current SEC and PCAOB Developments in Washington, D.C.
Thank you to all who stopped by our table to say “hello”. We look forward to seeing all of you as well as those that we missed at one of our upcoming 2018 Workshops or Programs.
More ASC 606 Comments from CorpFin
By: George M. Wilson
In this October post we reviewed comment letters that early adopters of the new revenue recognition model in ASC 606 received from CorpFin. The comments focused on issues surrounding the judgments this new principles-based model requires along with the related disclosures.
Another company, CBOE holdings, has joined the group of early adopters and in an August comment letter received these comments:
Financial Statements
- Organization and Basis of Presentation, page 6
Please explain to us how you determined that rebates paid to customers in accordance with published fee schedules should not be accounted for as a reduction of the transaction price. Refer to ASC 606 – 10 – 32 – 25 to 32 – 27.
- Revenue Recognition, page 8
We note your disclosure that you recognize revenue for certain services over time. Please tell us how you considered the requirements in ASC 606 – 10 – 50 – 13 to 50 – 15 to disclose information about remaining performance obligations or application of optional exemptions.
The same themes, explaining the judgments in applying the new principles and robust disclosure, come through in these comments and can help inform all of us as we implement the new standard.
As always, your thoughts and comments are welcome!
Visit SECI at AICPA’s “Current SEC & PCAOB Developments” Conference in D.C. Next Week!
SEC Institute is delighted to be participating in this year’s AICPA Conference “Current SEC & PCAOB Developments” being held December 4-6 in Washington, D.C.
SECI will be hosting the luncheon on Monday, December 4th and will have a display table in the exhibit hall.
Please join us for lunch on Monday and remember to stop by our table to enter your name in the raffle for a FREE ticket to a 2018 SECI Workshop or Forum of your choice. One ticket will be drawn each day.
We look forward to seeing you next week at the Marriott Wardman Park Hotel in Washington, D.C.
Form 10-K – Master the Requirements and Improve Disclosures
Form 10-K requirements and disclosures are undoubtedly challenging. Attend live program, Form 10-K In-Depth Workshop being held November 30-December 1 in San Francisco and December 11-12 in New York. Interactive discussions and exercises will enhance your understanding of each item, with particular focus given to the Management’s Discussion & Analysis (MD&A) section. The workshop leader will Review in detail each Form 10-K item and examine current FASB and SEC disclosure initiatives.
https://www.pli.edu/Content/Form_10_K_In_Depth_Workshop_2017/_/N-1z10od7Z4k?ID=290550
A Unique Workshop for Attorneys tasked with SEC Reporting
Many lawyers learn SEC reporting through on-the-job training that often is piecemeal at best. Attend SEC Reporting and Practice Skills Workshop for Lawyers January 11-12 in San Francisco with other 2018 dates and locations available. Develop a comprehensive and in-depth understanding of the structure, organization and details of the reporting requirements of the U.S. federal securities laws, including how to use the SEC’s online resources and all related sources of guidance.
https://www.pli.edu/Content/SEC_Reporting_and_Practice_Skills_Workshop/_/N-1z1011uZ4k?ID=320821
Master SEC Forms, Statements, Reporting Rules and “Hot Button” Issues
Attention Financial Reporting Professionals!
Sharpen Your Skills. Master how to accurately complete SEC Reporting Forms and how to comply with the Annual Proxy requirements. Build an understanding of the structure and use of the SEC’s guidance and knowledge of the key disclosure issues in the SEC’s periodic and current reports. Earn Up to 16 CPE Credits.
Register and Attend “SEC Reporting Skills Workshop”
Upcoming October Live Meetings!
October 12-13 New York City
October 23-24 Chicago
http://www.pli.edu/Content/SEC_Reporting_Skills_Workshop_2017/_/N-1z10oe8Z4k?ID=290540&t=ZLC7
Additonal programs, locations and dates are listed on the SECI site:
http://www.pli.edu/Content/Static/SEC_Institute/_/N-1z12cux?Npp=25
Learn the nuts and bolts of SEC reporting
SEC Reporting Skills Workshop 2017
Build the foundational knowledge and practical experience necessary to prepare and review the SEC’s periodic and current reporting forms. Participants will learn the structure and details of Forms 10-K, 10-Q, and 8-K, with a particular emphasis on challenging and complex disclosures and how to effectively use the SEC’s guidance. Annual proxy requirements and SEC insider trading rules will also be discussed. Frequent SEC comment areas will be reviewed along with example comments. This definitive SEC course is perfect for beginners or as a refresher for experienced SEC reporting professionals. Learn How To:
- Prepare and review Forms 10-K, 10-Q, and 8-K, and the proxy statement
- Use all the important sources of SEC reporting rules and guidance
- Write an effective MD&A
- Deal with the SEC staff and understand their “hot buttons,” including frequent comment areas such as non-GAAP measures, revenue recognition, the statement of cash flows, segments, and contingencies
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Alternative Financing Solutions for Emerging and Growing Companies
Auditors and Financial Officers of companies who raise capital with complex financial instruments often find themselves drowning in convoluted accounting issues and restatements. Avoid the confusion by attending the live workshop, Debt vs. Equity Accounting for Complex Financial Instruments being held September 13th in Las Vegas. Through a detailed review of the accounting literature and numerous examples and case studies this Workshop will help you build the knowledge and experience to appropriately recognize, initially record and subsequently account for these complex financing tools
http://www.pli.edu/Content/Debt_vs_Equity_Accounting_for_Complex_Financial/_/N-1z10odmZ4k?ID=290522
Join us at the 13th Annual SEC Reporting & FASB Forum for Mid-sized & Smaller Companies
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| SEC REPORTING | ||
| SEPTEMBER 14-15 – Las Vegas – Four Seasons Hotel Las Vegas Co-Chairs: Carol A. Stacey, MSA, CPA – Director, SEC Institute, a Division of PLI George M. Wilson, MBA, CPA – Director, SEC Institute, a Division of PLI
With a specific focus for mid-size and smaller companies, this program will help prepare you for successful third-quarter and year-end reporting processes. Hear from industry and topic experts about the impact of the new leadership at the SEC; rulemaking and projects at the SEC, FASB and PCAOB; and more!
Register Here: http://www.pli.edu/Content/13th_Annual_SEC_Reporting_FASB_Forum_for/_/N-1z10lptZ4k?ID=298604
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