taming revenue recognition: best practices to ensure compliance
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THE RESOURCE FOR CORPORATE FINANCE, ACCOUNTING & TREASURY PROFESSIONALS
After participating in this event you will be able to:
Define how the new revenue recognition regulations will impact your business processes and accounting and financial systems, and what you can do to prepare for adoption of these regulations.
Determine how to overcome some of the internal challenges that compound the complexity of revenue recognition, including distributed processes, systems and personnel.
Develop practical approaches to more accurately calculate revenue allocations, reduce manual reconciliations, establish centralized controls and compliance monitoring, ensure full audit trails.
Understand how to approach the revenue reconciliation challenges that arise with multi-element arrangements, and practical approaches for managing deferred revenue.
Proformative is the largest and fastest growing online resource for senior level corporate finance, treasury, and accounting professionals.
A resource where corporate finance and related professionals excel in their careers through:
Uniquely valuable, online Peer Network
Direct subject-matter-expert advice
Valuable Features and Resources
All of it completely noise-free
Check it out at www.proformative.com
THE RESOURCE FOR CORPORATE FINANCE, ACCOUNTING & TREASURY PROFESSIONALS
Albert Ryan
Principal Solution Consultant, NetSuite
NetSuite Background
World’s most deployed cloud business management solution
Used by 16,000+ organizations
Top 10 highest growth ERP solution according to Gartner and IDC
Founded 1998
Publicly traded on NYSE: “N”
Offices in 11 countries
$308M+ revenue
1,500+ employees
Cloud ERP Suite
Background Performance
Why is Revenue Recognition Important?
Why is Revenue Recognition Important?
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Revenue Recognition is Audit High Risk
THE RESOURCE FOR CORPORATE FINANCE, ACCOUNTING & TREASURY PROFESSIONALS
Ivan Makarov
Controller, SmugMug
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SmugMug Background
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Revenue Environment at SmugMug
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Drivers for a Change Managing Rev Rec
Financial Reporting
• Increase accuracy
• GAAP documentation
• Support for external auditors
Business Growth
• New subscription volumes growing
• Renewal volumes also increasing
Lack of Automation
• 1,000+ transactions daily
• Managing spreadsheets no longer feasible
• Strong desire to invest in technology vs. people
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Revenue Recognition Challenges
