Revenue Recognition Rules Have Changed | DS+B Hosts Finance Leaders Alliance Group
On July 18th, DS+B welcomes the Finance Leaders Alliance Group for an educational presentation on how to prepare your business and leadership team. Topic: The accounting rules for revenue recognition and leases have changed. The new 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.
UNDERSTAND | 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 July 18th, 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.
Date, Times + Location
8:00 AM | Presentation Begins
10:30 AM | Session Adjourns
(next to building management office/lobby)
222 South Ninth Street
Minneapolis, MN 55402
Space is limited! Contact Elaine Nelson for additional information.