EY Accounting technical webcast

The new revenue recognition standard

A webcast for US GAAP reporters and practitioners

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The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have issued new converged standards for recognizing revenue under US GAAP and IFRS. These standards were a decade in the making.

Our webcast will provide a starting point to consider the steps of the new revenue model. Our panel of subject-matter professionals will also discuss how the requirements will impact some common revenue arrangements.

In this webcast, we will discuss:

  • Highlights of the new standard, including effective dates and transition methods
  • The primary requirements of the new revenue model when accounting for revenue arising from contracts with customers
  • Other aspects of ASC 606, Revenue from Contracts with Customers, including new disclosure requirements

This webcast is intended for companies preparing financial statements in accordance with US GAAP. If you are interested in how the new revenue recognition standard affects IFRS preparers, please register for IFRS 15: the new revenue recognition standard.

Panelists

Russell Hodge

General Electric Company

Russell Hodge is a Global Technical Controller at General Electric Company. In this role, Russell monitors and actively participates in standard setting projects including joint projects of the IASB and FASB. He is currently a member of the SEC Regulations Committee and the Global Preparers Forum, a formal advisory body to the IASB. His responsibilities include consulting with GE businesses on technical accounting and reporting matters.

Prior to joining GE in August 2007, Russell was a Partner in the National Professional Practice of Ernst & Young. In this position, he was responsible for consulting with engagement teams on technical accounting and reporting matters, monitoring activities of standard-setting bodies, drafting firm communication materials related to new and existing accounting pronouncements and leading professional education courses.

From April 2003 to June 2005, Russell was a Professional Accounting Fellow in the Office of the Chief Accountant of the U.S. Securities and Exchange Commission.

 

Alison T. Spivey

Ernst & Young LLP

Alison Spivey is a partner in Ernst & Young LLP's Professional Practice Group. She is responsible for consulting with engagement teams on technical accounting and reporting matters, monitoring activities of standard-setting bodies, drafting firm materials related to new and existing accounting pronouncements and leading professional education courses, primarily in revenue recognition and compensation arrangements.

Prior to joining EY, Alison spent over four years in the Office of the Chief Accountant of the U.S. Securities and Exchange Commission. As an Associate Chief Accountant, her responsibilities included working with public registrants on accounting and reporting matters, acting as a liaison with professional accounting standard-setting bodies, and participating in the development of the Commission staff's guidance and rule proposals under Federal Securities laws. Alison consulted with registrants on technical accounting matters and was a co-author of Staff Accounting Bulletin No. 107, Share-Based Payment.

 

Christopher Bolash

Ernst & Young LLP

Chris Bolash is a partner in the Ernst & Young LLP Financial Accounting Advisory Services (FAAS) practice. The FAAS practice assists finance leaders in addressing the strategic accounting and financial reporting challenges facing their businesses and the finance function. Chris leads the FAAS practice’s team that addresses revenue recognition matters.

Previously, Chris was a partner in the New York-based Ernst & Young LLP National Professional Practice – Accounting Standards group. In this role, Chris was responsible for monitoring standard setting activities and assisting clients and engagement teams in understanding and implementing today’s complex accounting requirements under both US GAAP and IFRS.

Prior to joining the Professional Practice Group, Chris was a Practice Fellow with the Financial Accounting Standards Board for two years. As a Practice Fellow, Chris was involved with various technical application and implementation projects, as well as some of the Board’s major projects.

 

Moderator

Danita Ostling

Ernst & Young LLP

Danita Ostling is a partner in Ernst & Young LLP's Professional Practice Group, and since July 2007 has served as the EY Americas IFRS Technical Leader. As such, she is responsible for coordinating the global EY organization’s IFRS accounting guidance and consultations in the Americas. She also is a member of the organization’s Global IFRS Policy Committee.

Ms. Ostling earned her B.S. degree in accounting from the University of Arkansas at Little Rock and is a licensed CPA in the states of New York and Texas.