Revenue Recognition Toolkit

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Save time, empower your teams and effectively upgrade your processes with access to this practical Revenue recognition Toolkit and guide. Address common challenges with best-practice templates, step-by-step work plans and maturity diagnostics for any Revenue recognition related project.

Download the Toolkit and in Three Steps you will be guided from idea to implementation results.

The Toolkit contains the following practical and powerful enablers with new and updated Revenue recognition specific requirements:


STEP 1: Get your bearings

Start with...

  • The latest quick edition of the Revenue recognition Self Assessment book in PDF containing 49 requirements to perform a quickscan, get an overview and share with stakeholders.

Organized in a data driven improvement cycle RDMAICS (Recognize, Define, Measure, Analyze, Improve, Control and Sustain), check the…

  • Example pre-filled Self-Assessment Excel Dashboard to get familiar with results generation

Then find your goals...


STEP 2: Set concrete goals, tasks, dates and numbers you can track

Featuring 989 new and updated case-based questions, organized into seven core areas of process design, this Self-Assessment will help you identify areas in which Revenue recognition improvements can be made.

Examples; 10 of the 989 standard requirements:

  1. Do you know whether the value of emission rights granted by government should be included within income in the period of granting, or systematically recognized as revenue over the compliance period?

  2. Do circumstances exist in which formal customer sign-off (that a contractual customer acceptance provision is met) is unnecessary to meet the requirements to recognize revenue?

  3. Can your organizations commitment to leadership as a core value of its recognition program adequately address reputational risks associated with your organizations processes?

  4. Risk arising from embedded derivatives contained in a host insurance contract if the insurer is not required to, and does not, measure the embedded derivatives at fair value?

  5. Has the insurer disclosed information to enable users of its financial statements to evaluate the nature and extent of risks arising from insurance contracts?

  6. Has the insurer disclosed information that identities and account fors the amounts in its financial statements arising from insurance contracts?

  7. Do you use arrangements with your customers (where the revenue for one invoice may not be recognized until the subsequent items ship)?

  8. Are the assumptions underlying the calculation of fair values of hard-to-value assets reasonable and based on current information?

  9. What are the key business intelligence components that you need for both a holistic and detailed view of business operations?

  10. What considerations are relevant to the determination of how to apply the new revenue standard to this type of arrangement?


Complete the self assessment, on your own or with a team in a workshop setting. Use the workbook together with the self assessment requirements spreadsheet:

  • The workbook is the latest in-depth complete edition of the Revenue recognition book in PDF containing 989 requirements, which criteria correspond to the criteria in...

Your Revenue recognition self-assessment dashboard which gives you your dynamically prioritized projects-ready tool and shows your organization exactly what to do next:

  • The Self-Assessment Excel Dashboard; with the Revenue recognition Self-Assessment and Scorecard you will develop a clear picture of which Revenue recognition areas need attention, which requirements you should focus on and who will be responsible for them:

    • Shows your organization instant insight in areas for improvement: Auto generates reports, radar chart for maturity assessment, insights per process and participant and bespoke, ready to use, RACI Matrix
    • Gives you a professional Dashboard to guide and perform a thorough Revenue recognition Self-Assessment
    • Is secure: Ensures offline data protection of your Self-Assessment results
    • Dynamically prioritized projects-ready RACI Matrix shows your organization exactly what to do next:

 

STEP 3: Implement, Track, follow up and revise strategy

The outcomes of STEP 2, the self assessment, are the inputs for STEP 3; Start and manage Revenue recognition projects with the 62 implementation resources:

  • 62 step-by-step Revenue recognition Project Management Form Templates covering over 1500 Revenue recognition project requirements and success criteria:

Examples; 10 of the check box criteria:

  1. Procurement Audit: Are unsuccessful companies informed why tender failed?

  2. Human Resource Management Plan: Are issues raised, assessed, actioned, and resolved in a timely and efficient manner?

  3. Source Selection Criteria: What is the last item a Revenue recognition project manager must do to finalize Revenue recognition project close-out?

  4. Change Log: Do the described changes impact on the integrity or security of the system?

  5. Human Resource Management Plan: Has a quality assurance plan been developed for the Revenue recognition project?

  6. Change Log: Is the submitted change a new change or a modification of a previously approved change?

  7. Scope Management Plan: Are changes in scope (deliverable commitments) agreed to by all affected groups & individuals?

  8. Assumption and Constraint Log: Is the current scope of the Revenue recognition project substantially different than that originally defined in the approved Revenue recognition project plan?

  9. Decision Log: How does the use a Decision Support System influence the strategies/tactics or costs?

  10. Procurement Audit: Is there ineffective internal communication in the procurement function/unit?

 
Step-by-step and complete Revenue recognition Project Management Forms and Templates including check box criteria and templates.

1.0 Initiating Process Group:

  • 1.1 Revenue recognition project Charter
  • 1.2 Stakeholder Register
  • 1.3 Stakeholder Analysis Matrix


2.0 Planning Process Group:

  • 2.1 Revenue recognition project Management Plan
  • 2.2 Scope Management Plan
  • 2.3 Requirements Management Plan
  • 2.4 Requirements Documentation
  • 2.5 Requirements Traceability Matrix
  • 2.6 Revenue recognition project Scope Statement
  • 2.7 Assumption and Constraint Log
  • 2.8 Work Breakdown Structure
  • 2.9 WBS Dictionary
  • 2.10 Schedule Management Plan
  • 2.11 Activity List
  • 2.12 Activity Attributes
  • 2.13 Milestone List
  • 2.14 Network Diagram
  • 2.15 Activity Resource Requirements
  • 2.16 Resource Breakdown Structure
  • 2.17 Activity Duration Estimates
  • 2.18 Duration Estimating Worksheet
  • 2.19 Revenue recognition project Schedule
  • 2.20 Cost Management Plan
  • 2.21 Activity Cost Estimates
  • 2.22 Cost Estimating Worksheet
  • 2.23 Cost Baseline
  • 2.24 Quality Management Plan
  • 2.25 Quality Metrics
  • 2.26 Process Improvement Plan
  • 2.27 Responsibility Assignment Matrix
  • 2.28 Roles and Responsibilities
  • 2.29 Human Resource Management Plan
  • 2.30 Communications Management Plan
  • 2.31 Risk Management Plan
  • 2.32 Risk Register
  • 2.33 Probability and Impact Assessment
  • 2.34 Probability and Impact Matrix
  • 2.35 Risk Data Sheet
  • 2.36 Procurement Management Plan
  • 2.37 Source Selection Criteria
  • 2.38 Stakeholder Management Plan
  • 2.39 Change Management Plan


3.0 Executing Process Group:

  • 3.1 Team Member Status Report
  • 3.2 Change Request
  • 3.3 Change Log
  • 3.4 Decision Log
  • 3.5 Quality Audit
  • 3.6 Team Directory
  • 3.7 Team Operating Agreement
  • 3.8 Team Performance Assessment
  • 3.9 Team Member Performance Assessment
  • 3.10 Issue Log


4.0 Monitoring and Controlling Process Group:

  • 4.1 Revenue recognition project Performance Report
  • 4.2 Variance Analysis
  • 4.3 Earned Value Status
  • 4.4 Risk Audit
  • 4.5 Contractor Status Report
  • 4.6 Formal Acceptance


5.0 Closing Process Group:

  • 5.1 Procurement Audit
  • 5.2 Contract Close-Out
  • 5.3 Revenue recognition project or Phase Close-Out
  • 5.4 Lessons Learned

 

Results

With this Three Step process you will have all the tools you need for any Revenue recognition project with this in-depth Revenue recognition Toolkit.

In using the Toolkit you will be better able to:

  • Diagnose Revenue recognition projects, initiatives, organizations, businesses and processes using accepted diagnostic standards and practices
  • Implement evidence-based best practice strategies aligned with overall goals
  • Integrate recent advances in Revenue recognition and put process design strategies into practice according to best practice guidelines

Defining, designing, creating, and implementing a process to solve a business challenge or meet a business objective is the most valuable role; In EVERY company, organization and department.

Unless you are talking a one-time, single-use project within a business, there should be a process. Whether that process is managed and implemented by humans, AI, or a combination of the two, it needs to be designed by someone with a complex enough perspective to ask the right questions. Someone capable of asking the right questions and step back and say, 'What are we really trying to accomplish here? And is there a different way to look at it?'

This Toolkit empowers people to do just that - whether their title is entrepreneur, manager, consultant, (Vice-)President, CxO etc... - they are the people who rule the future. They are the person who asks the right questions to make Revenue recognition investments work better.

This Revenue recognition All-Inclusive Toolkit enables You to be that person.

 

Includes lifetime updates

Every self assessment comes with Lifetime Updates and Lifetime Free Updated Books. Lifetime Updates is an industry-first feature which allows you to receive verified self assessment updates, ensuring you always have the most accurate information at your fingertips.