|New Guidance||Become familiar with the new rules and start to see how it will impact your company|| ASC 606 Basics|
The Revenue Recognition Principle
2016 RevRec Summit Presentations
You Need to Understand the New Standard to Apply It
What IT Managers Need to Know About Revenue Recognition
|Get Started||Build your team; create internal committees. Be a change agent within your organization. Communicate changes and impacts widely within organization. Make sure management and Board of Directors are aware of what you need to do.|| Action Plan with Amanda: Get Started|
2016 Action Plan: Get Started
New Guidance Budgeting and Planning Needs to Start Yesterday
If You Haven't Started Planning for the New Standard, You're Behind
Don't Wait to Automate
|Pre-Assessment||Get with your auditor and perform initial high-level assessments and start to get an idea of the impact. This would include technical accounting adoption and operational implementation assessments|| Action Plan with Amanda: Pre-Assessment|
Revenue Recognition for SaaS Companies
Assessment Tales: Big Firms Taking the 606 Plunge
|Strategy Outline||Review the strategic implications of the new guidance for all areas of the company. Outline the pros and cons of your current workflows and make plans to change, as necessary. Define timelines and milestones for your own implementation.|| Action Plan with Amanda: Strategy Outline|
A Strategic Approach to the New RevRec Rules (RoseRyan)
Did We Need the New Revenue Recognition Framework?
|Dig Deeper||Identify gaps in upstream data or business processes. Take a thorough inventory of your contracts. Identify specific contract types and revenue streams that you are going to have to handle. Identify your POBs for these revenue streams and determine your accounting treatment. Document your new accounting policies. Identify system and reporting limitations. Identify dependencies and roadblocks|| Action Plan with Amanda: Dig Deeper|
Practical Applications of ASC 606 for SaaS Companies (Connor Group)
Practical Examples for the New RevRec Standard (Victorino)
Why Retail and Consumer Industries Should Dig Deeper into New Revenue Guidance
Change is In the Air
|Make Decisions||Research and select a transition method. Research the need for a software tool and what options are available. Determine whatever tools you need to be successful and begin to test.|| Action Plan with Amanda: Make Decisions|
KPMG on Transition Methods
Selecting a Transition Method
Know Your Transition Method: If Now Now, When?
Leeyo's RevPro Overview
eBook: Build or Buy?
RevPro Product Sheet
|Operational Planning||Start making your plans to implement. Perform scoping exercises and full business review. What other areas are going to be impacted? Are they aware?|| Action Plan with Amanda: Operational Planning|
Revenue Predictability Starts with Revenue Automattion
Forecasting Comes to the Fore with New Guidance
Who's on First? RevPro Users, Most Likely
|Brave New World||Take sample data and apply new GAAP, steps 1-5 to see if you are on the right track. Define your list of “must have” new GAAP requirements. Identify any missing items that are required to facilitate rev rec under the new guidance. Determine New GAAP business/policy requirements.|| Action Plan with Amanda: Brave New World|
Five Best Practices for a Successful Revenue Automation Implementation (Connor Group and Tintri)
From the Experts: What to Expect in 2017
|Preparation||Ensure your data is correctly prepared. Update forms, templates, spreadsheets, reports, etc. Implement your changes to the business and to your processes and controls.|| Action Plan with Amanda: Preparation|
Feedback from FASB/IASB Webcast
White Paper: New Revenue Standards for Subscription Businesses
|System Design||Identify and coordinate members of your implementation team. Develop your integration plan. Create a detailed design and system map of your selected systems and tools.|| Action Plan with Amanda: System Design|
Declare Your Independence from Spreadsheets
Let's Survey the Demise of Spreadsheets
Is It Time to Automate Your Revenue?
|Testing and Training||User training. Testing. Prepare your people and systems to go live.||Action Plan with Amanda: Testing and Training|
|Implementation||By this time, you should be prepared to go live. More testing. Learn about dual reporting. Learn about and prepare necessary disclosures and reporting. Gather and process data and prepare your JEs.||Revenue Recognition Summit 2017|
|Audit||Preparing for financial audits under dual guidance and new rules. Understand that both sets of numbers will be on your financial reports so will be subject to similar scrutiny of audit.|| Action Plan with Amanda: Audit|
Why Auditors Love RevPro
Why Auditors Love RevPro, and Why They Don't
How Secure Are You?
Build your team; create internal committees. Be a change agent within your organization. Communicate changes and impacts widely within organization. Make sure management and Board of Directors are aware of what you need to do.