Jeff does nothing else but deal with revenue recognition matters. He advises clients during negotiations of complex contracts and assists in the determination and documentation of the related revenue accounting methodologies and required internal controls. Jeff also helps clients assess pricing strategies for multiple element arrangements as to their potential effect on long-term revenue behavior. Most importantly, he is an experienced presenter and course developer on revenue recognition topics.
Previous to founding his consulting firm and RevRec.Net, Jeff spent the first part of his career working at Deloitte & Touche and Ernst & Young. He then spent five years at Network Appliance, Inc. as that company scaled from revenue in the hundreds of millions to multiple billions. His last job prior to consulting was at Silicon Graphics, Inc. where the number of multiple elements in the multiple element arrangements were what he would describe as “character building”.
Every step of the way, Jeff strived to do what they don’t necessarily teach you in accounting school – translate business reality into its impact on the financial statements. The result is that Jeff has repeatedly implemented and executed plans that embed technical accounting into routine operations.
Given most events at a company flow through its financial statements in some manner, business strategy is only useful when it can be transformed into its effect on financial policy and results. Listed below are some of the more common pieces of revenue recognition literature. Let Jeff help you decide which ones are relevant, then empower you with the judgment required to make those day-to-day business decisions within the parameters under your control.
Accounting Research Bulletins |
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| ARB-45 | Long-Term Construction-Type Contracts |
Accounting Principles Board Opinions |
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| APB-29 | Accounting for Non-monetary Transactions |
Financial Accounting Standards Board Statements |
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| FAS-5 | Accounting for Contingencies |
| FAS-13 | Accounting for Leases |
| FAS-48 | Revenue Recognition When Right of Return Exists |
| FAS-68 | Research and Development Arrangements |
| FAS-91 | Accounting for Nonrefundable Fees and Costs Associated with Originating or Acquiring Loans and Initial Direct Costs of Leases |
| FAS-98 | Accounting for Leases, an amendment |
FASB Technical Bulletins |
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| FTB 90-1 | Accounting for Separately Priced Extended Warranty and Product Maintenance Contracts |
FASB Concept Statements |
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| CON-5 | Recognition and Measurement in Financial Statements of Business Enterprises |
AICPA Statements of Position |
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| SOP 81-1 | Accounting for Performance of Construction-Type and Certain Production-Type Contracts |
| SOP 97-2 | Software Revenue Recognition |
AICPA Technical Practice Aids |
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| TPA 5100 | Revenue Recognition |
Consensus Positions of the Emerging Issues Task Force |
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| EITF 88-18 | Sales of Future Revenues |
| EITF 95-1 | Revenue Recognition on Sales with a Guaranteed Minimum Resale Value |
| EITF 99-17 | Accounting for Advertising Barter Transactions |
| EITF 99-19 | Reporting Revenue Gross as a Principal versus Net as an Agent |
| EITF 00-10 | Accounting for Shipping and Handling Fees and Costs |
| EITF 00-21 | Revenue Arrangements with Multiple Deliverables |
| EITF 01-2 | Interpretations of APB Opinion No. 29 |
| EITF 01-8 | Determining Whether an Arrangement Contains a Lease |
| EITF 01-9 | Accounting for Consideration Given by a Vendor to a Customer |
| EITF 01-14 | Income Statement Characterization of Reimbursements Received for “Out-of-Pocket” Expenses Incurred |
| EITF 02-16 | Accounting by a Customer for Certain Consideration Received from a Vendor |
| EITF 03-5 | Applicability of SOP 97-2 to Non-Software Deliverables in an Arrangement Containing More-Than-Incidental Software |
| EITF 03-10 | Application of EITF 02-16 by Resellers to Sales Incentives Offered to Consumers by Manufacturers |
| EITF 03-12 | Impact of FASB Interpretation No. 45 on EITF 95-1 |
SEC Staff Accounting Bulletins |
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| SAB 104 | Revenue Recognition in Financial Statements |
Basic Revenue Recognition
San Jose, CA - December 10
Advanced Revenue Recognition Topics
San Jose, CA - December 15
Software Revenue Recognition
San Jose, CA - December 11
Software as a Service (SaaS)
Dates coming in 2009
Revenue Recognition under IFRS
Dates coming in 2009