Preparing for ASC 606: 8 Components of a Rock Solid Revenue Recognition Policy

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Is Your Revenue Recognized Consistently?

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In this guide, we’ll walk you through how to create an accurate, compliant and consistent revenue recognition policy using these eight critical components:

  1. Revenue Types
  2. Special Deals
  3. Setup Fee Revenue
  4. Ongoing Support Revenue
  5. Hourly Support Revenue
  6. On-site/Web-based Training
  7. Relative Selling Price Allocation
  8. Financial Reporting

“Revenue recognition is critical for every SaaS business, which is why it’s equally important to roll-out policies and procedures that will ensure revenue is recognized consistently across your business and adheres to the New Revenue Recognition Standard (ASC) 606.”