Revenue Recognition

‘The core principle of the new standard is that an entity shall recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.’

Maple Tree Consultants has extensive knowledge and experience extrapolating large amounts of ASC 605 data for analysis and presentation of necessary ASC 606 adjustments and disclosures. Our experience includes consideration of various revenue streams, drafting updated processes and procedures, writing accounting policies and transition memos, and preparing comparative financial data for executive consideration.

Maple Tree Consultants practical approach helps ensure an efficient, successful implementation for your company.

Maple Tree Consultants has extensive experience with revenue recognition guidance and advising companies on both the old and new standards. From a readiness and gap assessment, to the development and execution of a comprehensive implementation plan, we guide your company’s journey to effectively and seamlessly adopt the new revenue recognition standard.

Revenue Deal Desk

Deal desk is a place where complex, high value deals can be discussed between sales, finance, and product teams. A deal may be the sales rep’s responsibility but multiple stakeholders are involved in making it successful. Customer, product or pricing data essential in making deals successful is stranded with individuals from various departments, on assorted tools and stored in disparate systems. A simple error in deal creation or execution can impact your reputation and brand. We can help you with a variety of Revenue Deal Desk processes including the following:

  • Structuring for optimal recognition
  • Negotiation support
  • Review and documentation

Accounting Policies & Procedures

Accounting policies and procedures help your employees run your business without your constant supervision. They are simple, easy to understand and to follow. Writing accounting policies and procedures can be difficult, but they will help you in the long term, keeping processes standardized and simple.

Communication is essential to your internal control framework, and documented accounting policies and procedures are one of the best ways to communicate essential accounting information and make sure everyone in accounting is on the same page. We can help you document existing policies or design and draft new policies.

 

  • Drafting updated processes and procedures
  • Writing accounting policies and transition memos
  • Preparing comparative financial data for executive consideration

New Standard (ASC 606/IFRS 15)

  • Readiness and gap assessments
  • Selection of transition method
  • Parallel transaction analysis

Revenue Automation

Revenue systems and automation are necessary to deliver accurate data and analysis for high-performing organizations. Maple Tree Consultants helps our clients optimize and engage technologies to achieve their goals. Our services include:

  • System implementation support
  • Process and control changes
  • Testing assistance