Can't make it to Fargo for the Management Conference this year?
Join us online instead . . . at least for some of the sessions. The following 7 sessions on business management and accounting topics are included in this 2-day webcast worth 12 hours of CPE.*
May 22nd Sessions
B3. Five Business Books in 100 Minutes - 10:20 - 12:00
You know you should read some business books, but finding time is often hard to do. Come get a 20-minute executive summary of five business books. This session makes it easy to catch up with the latest thinking in five very different topics. We change the mix all the time. Recent sessions have included Zero to One, American Icon, Slide:ology, Brain Rules and Snakes in Suits: When Psychopaths Go to Work. Save time, learn the key lessons of five business books in just 100 minutes.
C3. Introvert Power: Why Quiet Leaders are Successful - 1:00 - 2:40
Leaders were once chosen for their character but today we live in an age where loudmouthed extroverts seem to take center stage in everything, including business, politics and entertainment. While the talkative, charismatic leader makes the front page of business magazines, recent research shows that successful business leaders tend to be more reserved, pensive and sometimes outright shy. Learn why your desire to spend significant time inside your own head may be your greatest asset.
D3. Profit Improvement: Ten Tips - 3:00 - 3:50
When a company experiences poor financial performance, the financial person is often the first to go. Whether times are good or bad, asking the tough questions and making sure the organization is efficient and stays efficient are part of the financial manager’s job. Proactive efforts by financial management can prevent the need to “catch up.” This session provides 10 techniques for improving your company’s bottom line.
E3. Leaders Eat Last - 3:55 - 4:45
Trust is essential, because without trust, there can be no teamwork. Trust is like oxygen, when it is gone - we suffocate. This session provides a 15-step action plan to gain commitment from your team members, build trust, hold each person accountable and create results for your organization.
May 23rd Sessions
F2. Lease Accounting: a Whole New Ballgame - 8:00 - 9:40 am
The FASB’s simplification initiative seems to have been put on hold with the adoption of ASC 842- Leases. The new standard has revised and changed the scope of lease accounting and added varying levels of complexity along the way. Agreements that we previously thought were leases are no longer leases, like oil and gas leases, and other contracts that were previously only service contracts may contain embedded leases. A variation of capital leases (now called finance leases) and operating leases have carried over to the new standard, but both are now capitalized. This session provides an introductory overview of the new leasing standard and explores some of the implementation issues that have surfaced for those companies that are currently working their way through the standard. Topics include:
- What is a lease?
- Embedded leases
- Segregating contract elements
- Lessee accounting (finance lease, operating lease)
- Lessor accounting (sales-type, direct financing or operating lease)
- Practical expedients and optional elections
G2. Key Challenges of ASC 606- Revenue from Contracts with Customers - 10:00 - 11:45 am
Mandatory adoption of the new revenue recognition standard is less than a year away for most publicly traded companies and less than 2 years away for private companies. Many early adopters are finding that the financial statement disclosure requirements and identification of contract elements the most challenging. For most companies, as expected, the adoption of the standard requires a significant amount of effort with little change in reported revenues. One early adopter reported no changes in reported revenues, but an increase in earnings per share. In this session we will review the key elements of the new standard and explore the common pitfalls facing companies as they undertake the arduous task of early adoption. Topics include:
- The 5 step assessment
- Implied deliverables
- Variable consideration
- Which adoption method should I choose?
- Level: intermediate. a general understanding of ASC 606 is helpful, but not required
H2. What Has The FASB Been Up To Lately? - 12:45 - 2:25 pm
After the adoption of revenue recognition and lease accounting standards, the FASB has gone into full swing covering other topics. This session will cover the latest in new standards (excluding revenue recognition and lease accounting, which are covered in detail in other sessions). Topics may vary depending on time constraints and the latest FASB issuances, but it is expected to include:
- Breakage of stored value cards
- Consolidation guidance on related parties
- Accounting for credit losses
- Simplifying the equity method
- Share based payments
- Cash flow classification
- Elimination of step 2 of the goodwill impairment test
- Changes to the definition of a business
- Employee benefit plans
- Derecognition and partial sales of non-financial assets
12 (If you are licensed in a jurisdiction other than North Dakota, please contact us to see if this webinar will qualify for credits in your state.)