Revenue Recognition is critical for all businesses. As the FASB regulations evolve with the revised exposure draft that will be applicable to almost all businesses, CFO’s need to stay ahead of the statutory requirements to ensure that their financials and their ERP systems will adhere to the changing standards. During this session, our experts will discuss the latest strategies, insights and considerations for businesses within the current revenue recognition framework and address the upcoming changes.

At this event you will learn:

• What are the current “hot topics” in revenue recognition
• What is the current status of the FASB project and which industries are within its scope.
• How the new standard will impact current accounting literature.
• What impact the new standard will have with regard to timing of revenue recognition as well as the identification of separate elements.
• How revenue recognition rules impact your business processes, and accounting and financial systems.
• How to overcome some of the internal challenges that compound the complexity of revenue recognition, including distributed processes, systems and personnel.
• Practical approaches to more accurately calculate revenue allocations, ensure full audit trails, reduce manual effort, and obtain centralized control and compliance monitoring.

Learning Objectives

After attending this program, participants should understand:

• The current revenue recognition framework
• The important aspects of the new FASB regulations
• Methodologies to analyze your businesses under both the current and future revenue recognition frameworks
• Existing practices utilized by companies
• Best practices to demonstrate compliance

Presenters

Matt Svetich, Senior Manager, KPMG Venture Capital Practice

Matt Svetich is a Senior Manager in KPMG’s venture capital practice. Matt has a wide array of professional and industry experience. Prior to joining KPMG, Matt worked in a very successful start-up that focused on software security. The start-up was purchased for cash and stock totaling $205 million. Since joining KPMG 8 years ago, Matt has worked on a variety of early-stage technology companies as well as some of the largest software and technology companies in the United States. Matt’s professional experience also extends internationally. Matt served on a rotation to Sao Paulo, Brazil where he performed IFRS conversion audits and reviewed foreign private issuer (20-F) filings in the capital market groups. His relevant technical expertise includes subjects such as revenue recognition, including software and contract accounting, stock compensation, and equity transactions.

Bryan McCorry, Senior Manager, KPMG Venture Capital Practice

Bryan McCorry is a Senior Manager in KPMG’s venture capital practice. Bryan has significant experience providing auditing services to companies of all shapes and sizes in the technology, consumer, and industrial industries. He has been involved in numerous initial and secondary public offerings and private debt placements. Bryan has traveled to several foreign countries in connection with his professional responsibilities, including the United Kingdom, Germany, the Netherlands, Belgium, Switzerland, China, Hong Kong, Korea, Singapore and Mexico. Bryan spent three years on rotation to KPMG’s Department of Professional Practice (“DPP”) in New York City from July 2008 through June 2011. While at DPP, Bryan’s principal responsibilities included researching technical accounting and SEC reporting inquiries received from engagement teams throughout the globe and developing firm auditing and accounting guidance and publications.

Jim McGeever, Chief Operating Officer, NetSuite

Jim McGeever joined NetSuite in 2000 as the company’s first Chief Financial Officer and oversaw the creation and growth of a global finance organization across seven countries. He was also a driving force behind NetSuite's successful IPO in 2007. Today, as NetSuite’s COO, Jim is responsible for global sales, services and support, and field marketing, as well as business development and the company’s vertical business units. Jim also spearheads NetSuite's industry and customer satisfaction programs. Jim is widely considered an expert on finance matters specific to the software-as-as-service (SaaS) business model. Prior to NetSuite, Jim held senior finance positions in the biotech and capital equipment industries. He holds a B.Sc. from the London School of Economics and in 2007 was named the Bay Area CFO of the Year.

Other Information:

• Program level: Advanced
• Recommended CPE: 2.0
• Program prerequisites: None
• Advanced Preparation: None
• Delivery Method: Live/Group

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