Implementing Recognition Standard - Zuora...2017/08/05 · to follow rules of ASC 605/606 , IFRS...
Transcript of Implementing Recognition Standard - Zuora...2017/08/05 · to follow rules of ASC 605/606 , IFRS...
Implementing
the New Revenue
Recognition Standard
P r e s e n t a t i o n b y
A M A N D A G . C A R R I L L O
Agenda
• Zuora RevPro Overview
• Demo• Revenue Contract Workbench
• Key Set Ups – Performance Obligations
• Reporting
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Core ERP, Financial Systems & Other Applications
CONTRACTS ORDERS PROJECTS BILLINGREVENUE
EVENTSGENERAL
LEDGER
Types of
Revenue
Events:
Usage
Payment
Delivery
Acceptance
Time & Labor
Comprehensive RevRec Automation
Revenue and
Deferred Revenue
Managementin accordance with your
accounting policies an business
rules
Dual
Accounting/Revenue
Booksto follow rules of ASC 605/606 ,
IFRS 15/16 and other
requirements
Comprehensive
Accountingfor COGS, commissions,
rebates and accruals in
conjunction with billed revenue.
Grouping of
Contractsfor multiple element
arrangement allocation and
contract modification
Transaction Price to manage the tracking and
accounting of variable
consideration and other
adjustments from estimates
through actuals, releases and
clearingRobust Reportingfor operational, reporting and
disclosure purposes
Standalone Selling
Price/Fair Valuefor VSOE, BESP, SSP, RSSP
calculations an allocations
Multiple Cost
Trackingaccounting for multiple user-
defined cost types, such as
commissions, standard costs,
etc.
Forecastingfor better management decision-
making
Transaction Lifecycle –ASC 606 & IFRS 15
Contracts Orders Projects BillingRevenue
Events
Identify Customer Contract
Identify Performance Obligations
Determine Transaction
Price
Allocate Transaction
Price
Recognize Revenue
Post and Report
1 2 3 4 5
Calculate Other Costs
Assign POB
Templates
Calculate Price
Adjustments
Bundle Config
Bundle Explosion
Transaction
GroupingCreate/Modify
Revenue
Contract
Revenue
Allocation
SSP Assignment
Accounting
Revenue
Release
Forecasting
Reporting
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Out of Box Reports Data Points Scalability Customizable
Accounting
Exceptions
Revenue
SOX & Audit
Transactions
FX Reports
All Measures in transaction, functional and reporting currency
All measures in PTD, QTD, YTD
All attributes reportable
Pre-Calculated
Pre-Summarized
Real time reporting
Report sharing
Flexible layouts
Custom filters
Summary vs Detail
Schedule Reports
Export to Excel
Reporting
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• Groupingof goods and services
• Multiple performance obligations
• Various revenue recognition methods
• SSP validation
• Allocations
• Revenue waterfall report
• Accounting journal entries
Revenue Contract Overview
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