Create Automated Revenue Recognition Software for ASC Topic 606 / IFRS 15 Compliance
ORGANIZATION: WHOmentors.com, Inc.
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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.
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About WHOmentors.com, Inc.
Location:
101A Clay Street, #250, San Francisco, CA 94111, US
Mission Statement
WHOmentors.com, Inc. facilitates Mentor Practitioner Professional Development at every level of opportunity and is an expert at Mentor Presence Management(TM) for business, industry, educational institutions, government entities, communities, and individuals.
Description
WHOmentors.com, Inc is a national nonprofit 501(c)(3) tax-exempt 509(a)(2) research corporation that is primarily engaged in interdisciplinary scientific applied research to gain knowledge or understanding to determine the means by which a specific, recognized need may be met.
F-1 OPT, H-1B considered.
CAUSE AREAS
WHEN
WHERE
101A Clay Street, #250SF, CA 94111
DATE POSTED
November 12, 2017
SKILLS
- Reporting & Dashboards
- Project Management
- Software Development
- Accounting
- Website Project Management
- Software Engineering
GOOD FOR
N/A
REQUIREMENTS
- Must be at least 18
- Orientation or Training
- varies based on your availability
- must have own laptop equipment