The issuance of the new standard for revenue recognition finally happened in May 2014, and will replace the current guidance in US GAAP and IFRS for revenue recognition at the end of 2017 for public filers and at the end of 2018 for private companies, with early adoption available.
The new revenue rules represent a paradigm shift from a rules-based to a principles-based approach and will impact several facets of a business. Companies will need to adjust policies and design new processes to ensure compliance.
Join Jeff as he:
REVIEW QUESTIONS: Topic 606 - Revenue from Contracts with Customers
FINAL EXAM: Topic 606 - Revenue from Contracts with Customers
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Jeff is the founder and technical advisor to RevRec.NET, a consulting group focused on providing advisory services around all aspects of revenue recognition, and ASC 606 implementation in particular. He also remains engaged at Silver Spring Networks, where he supports the sales and legal teams in strategic deal structuring, and advises the company on compliance matters and technical accounting policy with respect to revenue recognition. In addition, he has served on the advisory board of Revstream, a revenue lifecycle management and billings solutions company. Prior to these roles, Jeff’s past experience includes client serving positions at Ernst & Young and Deloitte, as well as holding various positions within the controllership functions of both NetApp and Silicon Graphics.
Founder and Technical Advisor : RevRec.Net - [2006-02 to Current]
Director of Revenue : Silver Spring Networks - [2009-06 to 2015-10]
Dir of Finance - Revenue Recognition : Silicon Graphics - [2004-11 to 2006-02]
Senior Manager - Worldwide Revenue : NetApp - [2003-05 to 2004-11]
Corporate Accounting Manager : NetApp - [2001-11 to 2003-05]
International Finance Manager : NetApp - [2000-01 to 2001-11]
International Tax Manager : Ernst & Young - [1997-09 to 1999-12]
Manager, Audit and Accounting : Magne Brokopiw & Zielke - [1995-09 to 1997-09]
Senior Staff : Deloitte - [1990-05 to 1995-09]
Bachelor of Commerce, Accounting : University of Manitoba