Northern Chapter VSCPA - Event Information

Event Name:Preparing for Transformative Change of the Accounting Function
Event Type(s):Chapter Event
Description:Join the Northern Chapter for its inaugural hybrid event - this session will offer the opportunity to return to Maggiano's for an in-person event or remain virtual. 

Topic: Preparing for Transformative Change of the Accounting Function

Time is running out to get ASC 842, Leases implemented. While the consequences of not being fully compliant at the end of your fiscal year can be quite significant, there is still time left to get your organization ready for the new leasing standard! Our program will highlight the key aspects of ASC 842 and relate the principles of the new accounting standard to the activities that will be required to ensure your organization is successful in the adoption of ASC 842.

Learning Outcomes:
  • Understanding the potential impacts to the balance sheet and gearing up for the lease accounting standard issued by the Financial Accounting Standards Board (FASB)
  • Understand practical expedients and accounting policy elections available for private companies under ASC 842
  • Review discount rate considerations
  • Learn about embedded leases and recurring payment analytic activities that will identify any unrecorded leases
  • Discuss software and process considerations
  • Learn about ASC 842 disclosure requirements
  • Discuss lessons learned from public company implementations
  • Andrew Taylor, CPA, Director, Risk & Accounting Advisory Services, Cherry Bekaert
  • Ashley Titolo, CPA, Manager, Risk & Accounting Advisory Services, Cherry Bekaert
Effective finance and accounting teams must function within your organization as strategic business partners. Resources are scarcer than ever, and finance leaders are increasingly tasked with delivering rapid results, reducing financial risk, and providing strategic insight. Well-designed strategies, processes, and insights can transform the accounting function into a value-added part of the organization capable of meeting critical businesses needs in a cost-effective manner. Whether your organization is growing through transactions, adopting regulatory changes, or simply looking to mature or optimize an existing platform, accounting transformation can help you design and implement strategies with results in mind.
Learning Outcomes:
  • Define Accounting Transformation and review the key components to a successful accounting transformation
  • Learn about the costs of an antiquated accounting function within your organization
  • Understanding the maturity model
  • Discuss software solutions
  • Discuss the common hurdles preventing a transformed accounting function
  • Understanding the benefits of a modern accounting function 
  • Garrett A Buckless, CPA, Senior Manager, Accounting Transformation, Cherry Bekaert
Date: August 17, 2022
Location: Maggiano's Little Italy and Zoom webinar 
Time: 12:00pm - 2:00pm, registration opens at 11 with buffet lunch being served at 11:30

Benefits: 2 hours CPE (included with membership to the Northern Chapter VSCPA, $40 for virutal/$50 for in-person)

Event Date:8/17/2022
Event Time:12:00 PM - 2:00 PM
Location:Maggiano's Little Italy
2001 International Drive
McLean, VA 22102

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Contact Person:Page Eastman
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