Contract Based Revenue Recognition

We have experience in recasting and preparing systems for contract-based revenue recognition, including clinical research providers, construction contractors, law firms and lawyers, among others.

Who might be interested:

• Service based businesses with contract revenue or retainers

• companies offering bundled services or staged deliverables

• startups entering investor or lending due diligence

• business looking to align financial reporting more closely with GAAP

Why is Contract Revenue Recognition important?

• Prevent overstatement of revenue by recognizing everything upfront

• prevent understatement of revenue where contract spreads over multiple months/quarters/years.

• Track expenses more closely to the revenue that they are related to

We help clients:

• Break down clients into clear performance obligations

• Prepare schedules recognizing revenue appropriately, leveraging contract information, and data recorded by your company.

• Create repeatable templates that your business can use going forward.