Taming Revenue Recognition: Best Practices to Ensure Compliance

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Video & Slides: http://www.proformative.com/events/taming-revenue-recognition-best-practices-ensure-compliance The dynamic regulatory landscape of revenue recognition is challenging for most companies. FASB/IASB regulations continue to evolve with the recently revised exposure draft that will be applicable to most businesses. CFO's need to stay ahead of these evolving statutory requirements to ensure that their financials and their ERP systems can and will adhere to the changing standards. Join us to discover how your company can create best practices based revenue recognition processes, and get the facts about the latest revenue recognition regulations and their impact from revenue recognition experts and your peers. Hear practical lessons from both a publicly traded company and a private firm that have focused on creating end to end revenue recognition process, and find out how they have successfully implemented the latest revenue recognition rules and standards.

Economy & Finance Business

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.
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Albert Ryan
Principal Solution Consultant, NetSuite

NetSuite Background
Background

Performance

Founded 1998
Publicly traded on NYSE: “N”

World’s most deployed cloud
business management solution

Offices in 11 countries

Used by 16,000+ organizations

$308M+ revenue

Top 10 highest growth ERP
solution according to Gartner and
IDC

1,500+ employees

Cloud ERP Suite

THE RESOURCE FOR CORPORATE FINANCE, ACCOUNTING & TREASURY PROFESSIONALS

Ivan Makarov
Controller, SmugMug

Revenue Environment at SmugMug
•

•

•

•

•

•

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

Revenue Recognition Challenges

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Taming Revenue Recognition: Best Practices to Ensure Compliance

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