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What Every Executive Needs to Know About International Revenue Recognition Standards

Complying with ASC606 & IFRS-15

The clock is ticking down to assess and plan for easily recognizing revenue from contracts with customers. In this ebook, you'll learn everything you need to know about the revenue guidelines, steps you need to take to streamline the process for complying and how to evaluate a contract management solution. Included with the ebook is a free checklist for Contracts Professionals to help get organized and steps for implementing a system. 

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This ebook will help Executives and

Contract Professionals to: 

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Understand

Understand the main highlights and timeframe for recognizing revenue

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Consider 

Consider how it will impact your business and steps to take to address the situation 

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Evaluate

Evaluate information that needs to be captured and what modifications may be required

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Discover

Discover what an automated contract management system offers when implemented 

 

 

“Many Businesses have significant uncertainty about what contracts they have and what terms are buried inside. Often, the contracts are big and unstructured, or the information is not all in one place, or it's not well organized.

-Jamie Wodetzki, co-founder of Exari Systems

  The Solution: An Enterprise Contract Management System

Implement an enterprise contract management platform to organize documents and make key information within them instantly accessible.

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 This will help organizations meet the five-step model the FASB and IASB boards have developed for recognizing revenue from contracts with customers:

Step 1: Identify the contract with the customer 

Step 2: Identify the performance obligations 

Step 3: Determine the transaction price 

Step 4: Allocate the transaction price to the performance obligations

Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation 

 

Don't Take Our Word For It ... 

"This initiative is a great example of the success that can be achieved when proven technology combines with a skilled team. Exari’s multilingual document generation capability is of great interest as Lloyd’s reaches out to emerging markets."

Sean McGovern

Chief Risk Officer and General Counsel, Lloyd's

"Using technology such as contract automation software and, in particular, the clause library has enabled us to offer our clients all of our traditional services but in a new efficient way. Exari provides a platform that allows us to develop dynamic solutions which are more efficient, consistent and save valuable time for our clients."

Andrew Scott

Partner, Bond Dickinson

"We chose Exari because it enable us to present complicated drafting options in a flexible and simple way. The efficiencies include ensuring accuracy and speed of creation. This is allowing us to further raise our client satisfaction levels."

Nicola Brown

Partner & Employment Law Specialist,
Mills & Reeves
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Used by Amazing Companies

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