The hour-long webcast, moderated by CFO Publishing’s Editorial Director, Mary Beth Findlay, will explore the latest developments in financial reporting, how CFOs ensure their companies' financial reporting practices are keeping up with the times, and other key questions such as how sustainability reporting might be of benefit, and how the most recent alternative for goodwill accounting could save both money and time.
The webcast examines the pressing need for more transparency, which has pushed CFOs to broaden the scope of financial reporting. Sustainability reporting in particular will be examined, which includes more information about nonfinancial drivers of corporate valuations. Other issues included in the webcast will include new changes in private company financial reporting.
"There a few changes in financial reporting that CFO’s need to be aware of," said Budicin. "One of the most significant is the new revenue recognition standard. While the boards have laid out a five-step process, the biggest challenge will be the step on allocating price-to-performance obligations. Since most contracts have bundles of products or services that are not sold independently, determining a price for each item will include some subjectivity. Another big issue is just gathering the information needed to support revenue recognition, and systems may need to be re-configured to report on these events."
"The CFO can't work in isolation," added Budicin. "After the initial analysis, the CFO must meet with the management team and the sales organization. Many existing contracts have been written to take advantage of existing revenue recognition policies, and as those policies change in response to new regulations, the sales contracts may need to change as well."
Over the course of Budicin's remarks, he will address some of the biggest concerns CFOs have today, and how the role of the CFO has had to change in response to these new trends. Interested attendees for the "The CFO Playbook on Accounting: The Latest Financial Reporting Developments,"
As a Director of The Keystone Group, Bill focuses on areas including mergers and acquisitions, financial and operational restructurings, profitability and cash flow improvement. Prior to joining The Keystone Group, Bill was a partner at Crowe Horwath LLP.
About The Keystone Group
The Keystone Group is a results oriented firm with a goal to deliver a 5x to 10x annual return on consulting spend. Keystone offers services in M&A, turnaround, and strategy and operations to middle market companies across many different industries. With a focus on implementation, Keystone has developed many client relationships that span over a decade. For more information on Keystone, please visit http://www.thekeystonegroup.com.