Revenue Recognition for SAAS Companies

Basics of Revenue Recognition for IT Auditors – what it means and how to identify controls

Recently Jay Swaminathan spoke with ISACA Silicon Valley Chapter about Revenue recognition for SAAS companies with a focus on NetSuite and internal controls

Introduction

Topic Introduction

  • Basic of Revenue Recognition

  • How does it play out in a SAAS industry

  • As an example, review how it will be implemented in an ERP system

Agenda

  • Basic Revenue Concepts

  • ASC 606 overview

  • 606 for SAAS Companies

  • Typical contract nuances

  • Review NetSuite flow

    • Documents & reports
  • Related configurations and setups

  • Typical extensions

  • Few automated controls

  • IT General control implications

Please see the slides below

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