Create Automated Revenue Recognition Software for ASC Topic 606 / IFRS 15 Compliance


(37.795937,-122.4)
 

Cause Areas

When

It's flexible! We'll work with your schedule.

Where

101A Clay Street, #250SF, CA 94111

About

What question looms large for Alibaba Group and JD.com after transactions generated billions of dollars in sales? How to recognize the revenue.

And, they are not alone. Compliance with ASC Topic 606 and IFRS 15 starts in January, 2018. All businesses, including nonprofit entities, will require automated revenue recognition software.

Your role is to research and create automated software.

Starting in 2018 for public companies and 2019 for private companies, ASC 606 and IFRS 15 revenue management guidelines from the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) will require companies to identify performance obligations in existing contracts,reallocate revenue each time a customer contract changes, and defer expense recognition to align with the contract’s delivery. As a result, contract add-ons and renewals must be integrated into a single contract and will trigger reallocations across both past and future periods-causing continuous revisions to revenue allocations and expense alignment.

Although the new accounting standards go into effect in 2018 and 2019, the influence of the new guidelines will impact companies much earlier, as any customer contract that extends beyond the start date will be effected. For example, a public company using two-year contracts would be impacted immediately. Furthermore, most companies will need to recast prior-period financial statements using the new guidelines in advance of the start date in order to provide proper comparative and future guidance to investors.

The revised regulations have CFOs scrambling to handle the complex accounting, which in turn has created a demand for specialized revenue recognition software to do a job most ERP systems can't -- at least not without heavy customization.

Skills

  • Reporting & Dashboards
  • Project Management
  • Software Development
  • Accounting
  • Website Project Management
  • Software Engineering

Good Match For

N/A

Requirements & Commitment

  • Must be at least 18
  • Orientation or Training
  • varies based on your availability
  • must have own laptop equipment

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