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
- Basics 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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