Complying with the new rev rec rules announced in May 2014 is enough to make anyone’s head explode. And that would be messy. So tap into the RoseRyan brain trust for soothingly efficient approaches to addressing the latest FASB edicts.
We’ve been on top of the new rules from the beginning, following the debates, the proposals, the drafts. We’re not playing catch-up, and that means you don’t have to. We can help you work through the details-plus, with our ground-level knowledge of the brainwork behind them, we can show you which changes mean good news for you.
Our Revenue recognition strategy service can:
- Scope and assess the complexity of your revenue models under the new rules
- Measure the financial statement impact for select revenue arrangements, allowing you to estimate business impact
- Strategize on key decisions, including adoption method and system solutions
- Determine the level of effort needed to implement the new rules
- Develop an implementation roadmap
- Deliver internal training to finance, sales, the board or other groups, geared to their level of accounting know-now
- Provide strategic insights for a successful implementation
And when you’re ready to dive into implementation, we can manage the project from start to finish, or take on discrete tasks like revenue contract review or financial system analysis.
Don’t put your head in the sand. The benefits of getting a head start are numerous. First, be prepared for board and investor questions. Second, using your internal resources in the best way saves money and builds internal expertise. Third, enjoy flexibility in competitive redesign of revenue deals. Fourth, reduce your risks by conducting a proactive evaluation of your systems and design of controls.
Note for companies just starting to earn revenue: the time to think about recognition is now, not right before your audit. RoseRyan gurus can show you the ropes, help you put a policy in place and make sure you’re portraying your business accurately.
There’s special value we bring to the table. Our flexible process helps you scope, assess and plan with tip top efficiency. And it is all good – all early stage efforts add value no matter where the guidance takes us, as inevitable future interpretations come bubbling up. RoseRyan’s savvy pros have deep experience in implementing accounting standards, so you’re in the hands of an ace team. And it’s not all about us – our relationships and experience with accounting firms are tremendously helpful as new interpretations surface.
We initially engaged RoseRyan for a very specific need—to review revenue recognition on our customer contracts, provide guidance on complex revenue transactions and review our quote to order process. This was important to our company as our product portfolio and go to market strategy continues to evolve. The consultant made sure we had all the documentation and supporting materials in preparation for our initial audit as well as he also took the time to really understand how our fast-growing company works. With that knowledge and experience, he provides us with a unique perspective my time-strapped team now relies on. The RoseRyan guru has assisted us with valuable thought leadership and guidance in planning, by helping us develop our compensation plans, for example. And we’ve expanded his role further by asking him to prepare and manage the audit. With RoseRyan, I get on-demand expertise, with the ability to lean on a savvy finance pro who truly knows his stuff and our business.