Revenue Recognition

Revenue Recognition under US GAAP and/or IFRS


Implementation of current and new accounting standards

  • Software revenue recognition under ASC 986-605 (formerly SOP 97-2)
  • Multiple Element Arrangements under ASC 605-25 (formerly ASU 2009-13 and 2009-14)
  • Revenue recognition at SaaS Companies
  • Developing revenue models for Clean Tech and Bio Tech Companies
  • Develop or update accounting policy on revenue recognition


Review Revenue Contracts

  • Review existing revenue contracts
  • Determine contract term
  • Develop the correct revenue recognition
  • Interview sales force to validate contract terms, if needed
  • Populate contract database


Development of Master Agreement

  • Development of Master Sales Agreement
  • Segregate existing revenue contracts by amount to ascertain common contract terms
  • Prepare different contracts for different countries of operations
  • Develop standard contracts for each revenue category
  • Develop service agreements templates
  • Populate and/or revise contract database


Training Sales Team

  • Provide training for a company’s sales team
  • Implement formal revenue recognition policy
  • Implement quarterly sales certification process


Maintenance of Company’s Revenue Recognition Policy

  • Maintain a company’s revenue recognition policy
  • Develop Vendor Specific Objective Evidence (VSOE) or Best Estimated Selling Price
  • Quarterly/Annual update of VSOE Analysis
  • Develop support for revenue recognition