"Back to Basics" – Revenue Recognition - Tuesday 30 April 2013 - London

When: 30/04/2013

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SCL seminar

Hosted by Wragge & Co LLP

Clive Davies
, Senior Counsel, Fujitsu Services Limited

Sally Mewies
, Partner, Wragge & Co LLP
Daniel Feather, Partner, Ernst & Young

Revenue recognition has been described as:

"An accounting principle under generally accepted accounting principles (GAAP) that determines the specific conditions under which income becomes realized as revenue".

It is a financial/legal issue that is critical to a supplier's ability to make money under a contract. It enables a company in simple terms to show a sale in its books. Equally customers often want rights to claw back payments in the event of a future contract failure by the supplier which conflict with the ability of the supplier to recognise revenue.

This seminar discusses:

  • The meaning of revenue recognition
  • The accounting rules that underpin revenue recognition
  • The impact of clauses clawing back revenue
  • Striking an acceptable balance between customer and supplier in contracts

Clive Davies
is a Senior Counsel with Fujitsu Services advising on major service contracts with customers in the public and private sectors including multinational deals. He specialises in advising on major project contracts for IT outsourcing having represented customers and suppliers in-house and in private practice for many years. He has a particular interest in improving the contracting process believing that a successful contract is one which supports effective delivery.

Clive lectures and writes regularly on IT related legal subjects. Clive is Co-Chair of ITechLaw's In-House Committee, treasurer of IFCLA, an editor of Communications Law and a member of the LexisNexis In-House Advisory Board and immediate past Chair of SCL.

Speakers' details:
Sally Mewies is a partner in Wragge & Co's Outsourcing, Trade and Technology Group. Sally has a strong background in system procurement, outsourcing and technology licensing. Having worked for many IT suppliers, she is able to bring her experience of the IT market to bear in dealings with clients on both sides of transactions. She has worked for customers on telecom outsourcing, data centre outsourcing, supply chain management as well as many large ERP system procurements. She has written papers on international software licensing and spoken at many conferences.

Daniel Feather is a partner in the Capital Markets group of Ernst & Young LLP and has over 18 years experience of accounting and consulting both inside and outside the profession and in the US and the UK.

Daniel and his team assist clients across multiple sectors in dealing with accounting and reporting implications of Capital Markets transactions including IPOs, GAAP conversions, carve-outs and cross border acquisitions. As part of his responsibilities he looks after the US aspects of reporting for funds in the UK and Channel Islands.

Administration notes:
The cost of attendance at this event is £90 + VAT (£108) for SCL members, £140 + VAT (£168) for non-members and £15 + VAT (£18) for students and SCL academic members. VAT invoices will be issued to all delegates..  VAT invoices will be issued to all delegates. 

If you wish to attend this event please book online or email [email protected] and request an invoice. Fees can be paid by cheque (cheques should be made payable to "Society for Computers and Law" please), Mastercard, Visa, Switch or bank transfer. All invoices for attendance at this event must be paid within 30 days of the invoice date or prior to the date of the event, whichever is the earlier.

Students and SCL academic members please note that you cannot book online.  To reserve your place and request an invoice please email [email protected]

Non-members wishing to join the Society are entitled to membership of the Society valid for 12 months from the date of payment including full access to the content of the SCL web site www.scl.org, 6 copies of the SCL magazine "Computers & Law" plus notification of future SCL events. The cost of an annual SCL membership is £115.00.  If you have any queries about SCL membership please contact : Priti Magudia, Tel: 0117 9237393, Email:  [email protected]

CPD: Under the Solicitors Regulation Authority CPD scheme, ILEX's CPD scheme and the Barristers' New and Established Practitioner Programmes this event is accredited with 2 hours CPD.

Booking terms and conditions: Application online or by email constitutes a firm booking and an undertaking to pay the meeting attendance fee. Cancellations will not be accepted (nor refunds made) unless received in the Society's offices in Bristol at least seven days before the date of the meeting.

It may be necessary for reasons beyond the control of the Society for Computers and Law to change the content/timing of the programme and/or speakers.

Society for Computers and Law  A company limited by guarantee 1133537  Registered Charity No. 266331  VAT Registration No. 115 4840 85  Registered in England and Wales  Registered office: 10 Hurle Crescent, Clifton, Bristol, BS8 2TA.

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