Implementing Recognition Standard - Zuora ... 2017/08/05 ¢  to follow rules of ASC 605/606...

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Transcript of Implementing Recognition Standard - Zuora ... 2017/08/05 ¢  to follow rules of ASC 605/606...

  • 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

    3

  • © 2009-2016 Leeyo Software, Inc. CONFIDENTIAL AND PROPRIETARY - FOR INTERNAL USE ONLY - ALL RIGHTS RESERVED 4

    Core ERP, Financial Systems & Other Applications

    CONTRACTS ORDERS PROJECTS BILLING REVENUE

    EVENTS GENERAL

    LEDGER

    Types of

    Revenue

    Events:

    Usage

    Payment

    Delivery

    Acceptance

    Time & Labor

  • Comprehensive RevRec Automation

    Revenue and

    Deferred Revenue

    Management in accordance with your

    accounting policies an business

    rules

    Dual

    Accounting/Revenue

    Books to follow rules of ASC 605/606 ,

    IFRS 15/16 and other

    requirements

    Comprehensive

    Accounting for COGS, commissions,

    rebates and accruals in

    conjunction with billed revenue.

    Grouping of

    Contracts for 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

    clearing Robust Reporting for operational, reporting and

    disclosure purposes

    Standalone Selling

    Price/Fair Value for VSOE, BESP, SSP, RSSP

    calculations an allocations

    Multiple Cost

    Tracking accounting for multiple user-

    defined cost types, such as

    commissions, standard costs,

    etc.

    Forecasting for better management decision-

    making

  • Transaction Lifecycle –ASC 606 & IFRS 15

    Contracts Orders Projects Billing Revenue

    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

    Grouping Create/Modify

    Revenue

    Contract

    Revenue

    Allocation

    SSP Assignment

    Accounting

    Revenue

    Release

    Forecasting

    Reporting

  • © 2009-2016 Leeyo Software, Inc. CONFIDENTIAL AND PROPRIETARY - FOR INTERNAL USE ONLY - ALL RIGHTS RESERVED 9

    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

  • © 2009-2016 Leeyo Software, Inc. CONFIDENTIAL AND PROPRIETARY - FOR INTERNAL USE ONLY - ALL RIGHTS RESERVED

    • Groupingof goods and services

    • Multiple performance obligations

    • Various revenue recognition methods

    • SSP validation

    • Allocations

    • Revenue waterfall report

    • Accounting journal entries

    Revenue Contract Overview

  • © 2009-2016 Leeyo Software, Inc. CONFIDENTIAL AND PROPRIETARY - FOR INTERNAL USE ONLY - ALL RIGHTS RESERVED 11

    What Questions Do You Have?