Revenue recognition considerations for automotive
Join us on 16 September for a webcast that will cover the issues and provide automotive companies with industry-specific considerations for each of the steps of the new revenue model. We’ll review the path forward for automotive US GAAP and IFRS reporters and practitioners.
During the webcast, our panel of EY subject-matter and industry professionals will discuss how the requirements will impact some common revenue arrangements in the automotive industry, specifically:
- Highlights of the new standard, including effective dates and transition methods
- The key implications of the new revenue model for both vehicle manufacturer and component supplier companies whenaccounting for revenue arising from contracts with customers
- What automotive companies should be thinking about today to get ready for the new standard
Chris Zuidema is a partner in the EY Financial Accounting Advisory Services (FAAS) Practice and has significant experience in complex accounting and reporting matters, including purchase accounting and fresh-start accounting, preparing carve-out financial statements, SEC reporting, and adoption of new accounting standards. Chris has experience in a broad range of industries including automotive, chemical, aerospace and defense, and diversified manufacturing.
Chris has advised many clients on accounting and reporting matters related to accounting issues while operating in bankruptcy as well as issues arising upon the adoption of fresh start accounting. He also has over two years of experience working at the Ernst & Young AG Global Capital Markets Center in Frankfurt, Germany assisting U.S. SEC registrants based in Europe with SEC reporting requirements and technical accounting issues. Chris led multiple conversions from local GAAP to U.S. GAAP for companies acquired companies or those companies wishing to initiate public offerings in the U.S
Chris graduated from the University of Michigan with a Bachelor of Business Administration. He is a Certified Public Accountant (CPA) and member of the American Institute of Certified Public Accountants. He is also a member of the Association of Insolvency & Restructuring Advisory.
Alison T. Spivey
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
Angela Covic is a Senior Manager in EY’s Global IFRS Services group in Global Professional Practice. She joined the Global IFRS Services group in 2010 and is based in London. Prior to joining the Global IFRS Services group, she worked for EY New Zealand for 11 years as an IFRS specialist and auditor. She was involved in assisting clients and audit teams with the transition to IFRS in 2007.
Angela specializes in the application of IFRS, with particular emphasis on revenue recognition, fair value measurement and agriculture. Since 2011, Angela has been a member of EY’s global core team following the joint IASB/FASB Revenue project. She is a co-author of the EY flagship publication International GAAP®, which is sold globally, focusing on Revenue Recognition, Fair Value Measurement and Agriculture. Angela is a Member of the Global EY Subject Matter Groups for Revenue Recognition, Fair Value Measurement and Impairment – these groups discuss and provide guidance on accounting issues.
Stephane Lagut is the EY Global Assurance Leader for the automotive sector, having responsibility for the worldwide operations for this service line in the industry. He has been based in Japan since 2003 and has acquired a unique experience in delivering cross-border services to global clients, both from a headquarters and subsidiaries perspective.
Before being seconded to Japan, Stephane acquired a strong experience in serving large multinational clients in France and overseas. Since joining EY, Stephane has been based in France, US and Japan.
On a regular basis, Stephane is a speaker at various professional conferences and events (for IFRS and /or Automotive matters) and has been delivering graduate teaching on numerous occasions.
Stephane is a graduate from EDHEC (1990)