Feb. 20 Webinar: Revenue Recognition – How It Impacts Manufacturers and Distributors

In May 2014, the Financial Accounting Standards Board (FASB) issued their new standard on reporting revenue which outlines a specific model for companies to follow in accounting for revenue arising from contracts with customers. These standards become effective January 1, 2019 for private companies and organizations need to start adapting to the changes

Join the Sax Manufacturing and Distribution Team on February 20th as we discuss how these significant changes will impact the M&D industry and what is to be expected from your organization to comply with these new standards.

We will dive into the Five Step Model in recognizing revenue:

  1. Identify the contract with a customer
  2. Identify the performance obligations in the contract
  3. Determine the transaction price
  4. Allocate the transaction price
  5. Recognize revenue

We will also tackle the following key areas surrounding revenue recognition as it relates to manufacturers and distributors:

  • How to identify performance obligations within contracts with your customers
  • Variable considerations (warranties, volume discounts, customer rebates, creation of customized products, price concessions)
  • Considerations and challenges with systems processes and controls
  • Bill-and-hold arrangements

Sax Webinar: Revenue Recognition and How it Impacts Manufacturers and Distributors

Tuesday, February 20, 2018 • 12PM – 1PM

Please click HERE to register or contact Bianca Madrigal at [email protected] for more information.