Revenue Recognition Strategy Service
to Get Your Game Plan On
Service helps companies quickly generate roadmap for adopting the new rules
Newark, Calif., August 11, 2015—Silicon Valley-based consulting firm RoseRyan today is announcing its Revenue recognition strategy service to help companies quickly create their game plan for moving to the new revenue recognition standard.
The new accounting pronouncement, first issued in May of 2014, will overhaul the way companies account for revenue. Dates for complying with the new standard, which uses an entirely new principles-based approach to recognizing revenue, were recently pushed back until 2018 for public companies, and RoseRyan’s service helps companies affected by the rules strategize on timing and next steps.
Notes Kathy Ryan, RoseRyan’s CEO, about the new standard, “It’s really no exaggeration to say that for many companies this will be a significant change. For some, especially in fields operating under the old, industry-specific rules, like tech and some sectors of the life sciences, it can present a watershed moment.” The standard was first issued by the Financial Accounting Standards Board (FASB) in conjunction with its international equivalent, the International Accounting Standards Board (IASB).
RoseRyan’s early-stage strategy service charts a course for smart adoption
Designed to help companies scope and plan for adopting the accounting standard, RoseRyan’s service is flexible and leverages the finance and accounting consulting firm’s deep expertise in the field. Founded in 1993, RoseRyan has a proven track record in helping hundreds of companies manage numerous game-changing rules.
Says Ryan, “Our service helps companies create their game plan with logical steps for a successful transition to the new rev rec rules. We help clients evaluate the financial impact, as well as the adoption methodology, timeline and systems that are best for them. We also help explore upside opportunities clients could realize when they implement these new rules. All of this takes time to plan.”
Scope the complexity of existing revenue models to assess financial impact
Measure financial statement impact for select revenue arrangements
Strategize on key decisions (including adoption method and system solutions)
Determine the level of effort needed (resource requirements)
Develop an implementation roadmap (with milestones)
RoseRyan’s dream team has been following the development of the new revenue recognition rules for more than a decade and has been frequently tapped by Compliance Week to comment on the changing landscape surrounding it. The firm’s experts are often asked to write, speak and blog about revenue recognition.
“Many companies are struggling right now, with CFOs trying to figure out how to make the transition that’s right for their particular circumstances,” says Pat Voll, a vice president of RoseRyan.
Adds Voll, “RoseRyan can guide the process, model the outcome under the new rules and assess the critical business considerations. There’s a lot to wrestle with since the decisions facing each company may cascade and collide among one another and can have significant financial impact. Through this service, we focus quickly on the most important elements for a winning strategy. There’s no single, right answer here, so it’s important to carefully think things through.”
RoseRyan resources: Learn more about revenue recognition
Get your game plan on!
Contact Maureen Ryan to learn how RoseRyan can help you create your revenue recognition roadmap at [email protected] or (510) 456-3056 x122.
RoseRyan is a finance and accounting consulting firm that tackles critical assignments for companies at any stage of their business lifecycle. Nationally recognized in its field, RoseRyan has helped more than 700 clients at all stages since 1993 by delivering specialized finance and accounting firepower exactly when and where it’s needed. From the startup that needs an interim CFO and scalable infrastructure to the publicly traded enterprise challenged with tricky transactions and complex compliance issues, our seasoned pros can help your team or be your team. Whatever the milestone, whatever the challenge, we offer up a savvy blend of public accounting expertise and industry know-how. Based in the San Francisco Bay Area, we focus heavily on the technology and life sciences industries. Recent and current clients include Genomic Health, Nature Box, Tesla Motors, Gilead Sciences, NVIDIA and Philips Lumileds. For more information, visit www.roseryan.com.
https://roseryan.com/wp-content/uploads/2017/09/LOGO_ROSERYAN-1.svg00RoseRyanhttps://roseryan.com/wp-content/uploads/2017/09/LOGO_ROSERYAN-1.svgRoseRyan2015-08-10 22:41:042015-08-10 22:41:04RoseRyan Introduces Revenue Recognition Strategy Service to Get Your Game Plan On
RoseRyan provides finance and accounting solutions in San Francisco and throughout Silicon Valley so companies can go further, faster.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.