Education Event: The Accounting Rules Have Changed – Is Your Business Ready?
The accounting rules for revenue recognition and leases have changed. Is your business ready for its impact on the financials, bank covenants and lease contracts? The new revenue recognition standard will take effect January 1, 2019 for privately held companies - that's right around the corner! Now is the time to dig in and start getting up to speed. On May 2nd, join DS+B for an educational presentation for business owners on how to effectively prepare your business and leadership team.
PREPARE | Accounting Rules for Revenue Recognition Have Changed
A new accounting standard issued by the Financial Accounting Standards Board (FASB 606) will soon require a consistent, single model for recognizing revenue and disclosure requirements on financial statements. This is significantly different than the all-events test used for tax purposes. The new standard is effective January 1, 2019 for private companies – That’s right around the corner!
PLAN | Leases, Large and Small, Will Now Be On the Balance Sheet
It’s a whole new world for lessors and lessees under a new accounting standard (FASB 842). In 2020, nearly all leases will need to be disclosed on the balance sheet – from buildings right down to autos and copiers. In doing so, it could have a major effect on business banking relationships and covenants—and, in turn, affect access to new capital. For just about every businesses – but particularly those in manufacturing, construction, franchising and technology – this change has far-reaching implications.
MANAGE | Guidance for the Impact on Financials, Covenants and Lease Contacts
Through this educational forum on Wednesday May 2nd, we will provide attendees with awareness and guidance these key issues and how they may influence your business decisions going forward. Now is the time to dig in and get up to speed. You’ll come away from this event with an understanding of the rule changes, and also how to prepare your management teams and advisors to help you with implementation.
NETWORK | Connect with Professionals and Business Peers
With the support of our sponsors, we have created not just an educational forum but also a great networking opportunity. Meet and mingle with business leaders from growing and mid-sized companies. A complimentary buffet-style breakfast will be provided during the morning session. Or, you can attend a sponsor-hosted happy hour immediately following the afternoon session. Register for whichever session is most convenient for you.
About the Presenter
Douglas Van Der Aa, CPA, JD
Doug is an energetic speaker focused on educating business owners, leaders and their advisors on complex subjects such as accounting, taxes and ethics. He has been a highly rated presenter by seminar attendees, CPA Associations and other organizations throughout the country for more than 18 years.
Doug has over 25 years of professional experience, including tax practice in CPA firms, and the practice of transactional business law as an attorney. As a CPA, Doug’s practice concentrated on the needs of closely held businesses and their related pass-through entities.
Date, Times + Location
There will be two identical sessions offered (both cover the changes to revenue recognition and leases), please attend which event is most convenient.
8:45 AM | Registration Opens
9:00 AM | Buffet Breakfast + Networking
9:30 AM | Presentation Begins
12:00 PM | Session Adjourns
Register for the Morning Session
1:00 PM | Registration Opens
1:30 PM | Presentation Begins
4:00 PM | Session Adjourns
4:00 PM | Networking + Reception at Kip’s (on premise)
Register for the Afternoon Session
St. Louis Park, MN 55426