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