Qualification & Experience

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

ARB-45 Long-Term Construction-Type Contracts

Accounting Principles Board Opinions

APB-29 Accounting for Non-monetary Transactions

Financial Accounting Standards Board Statements

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

FTB 90-1 Accounting for Separately Priced Extended Warranty and Product Maintenance Contracts

FASB Concept Statements

CON-5 Recognition and Measurement in Financial Statements of Business Enterprises

AICPA Statements of Position

SOP 81-1 Accounting for Performance of Construction-Type and Certain Production-Type Contracts
SOP 97-2 Software Revenue Recognition

AICPA Technical Practice Aids

TPA 5100 Revenue Recognition

Consensus Positions of the Emerging Issues Task Force

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

SAB 104 Revenue Recognition in Financial Statements




Upcoming 2008 Courses

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