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Munich, Germany M&A
Analyst
3 years experience
  • Revenue Recognition
  • Financial Modeling
  • M&A
  • Business Development
  • +6
Hire Corbinian
Barcelona, Spain Strategy
Manager
6 years experience
  • Revenue Recognition
  • Business Strategy
  • Business Development
  • Project Management
  • +2
Hire Gerard
Santa Monica, CA, United States Strategy, M&A
Associate
6 years experience
  • Revenue Recognition
  • Financial Modeling
  • Business Strategy
  • M&A
  • +8
Hire Zachary
Greater Oxford Area Strategy, M&A
Senior
12 years experience
  • Revenue Recognition
  • M&A
  • Due Diligence
  • Project Management
  • +3
Hire Islam
Strategy, M&A
Senior
20 years experience
  • Revenue Recognition
  • Financial Modeling
  • Business Strategy
  • M&A
  • +8
Hire Nicholas
Indianapolis, IN, USA Venture Capital
Manager
4 years experience
  • Revenue Recognition
  • Project Management
Hire Manoj
Barcelona, Spain Private Equity, Venture Capital
Manager
8 years experience
  • Revenue Recognition
  • Financial Modeling
  • Financial Analysis
  • Due Diligence
  • +3
Hire Juan
Spain Strategy, M&A
Associate
3 years experience
  • Revenue Recognition
  • Financial Modeling
  • Business Strategy
  • M&A
  • +5
Hire Maria Fernanda

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Frequently asked questions

What clients usually engage your Revenue Recognition Consultants?

We work with clients from all over the world. Our clients range from enterprise and corporate clients to companies that are backed by Private Equity or Venture Capital funds. Furthermore, we work directly with Family Offices, Private Equity firms, and Asset Managers. Most of our enterprise clients have dedicated Corporate Development, M&A, and Strategy divisions which are utilizing our pool of Revenue Recognition talent to add on-demand and flexible resources, expertise, or staff to their in-house team.

How is Fintalent different?

Fintalent is not a staffing agency. We are a community of best-in-class Revenue Recognition professionals, highly specialized within their domains. We have streamlined the process of engaging the best Revenue Recognition talent and are able to provide clients with Revenue Recognition professionals within 48 hours of first engaging them. We believe that our platform provides more value for Corporates, Ventures, Private Equity and Venture Capital firms, and Family Offices.

Our Hiring Process – What do ‘Community-Approach’ and ‘Invite-to-Apply’ mean?

‘Invite-to-Apply’ is the process by which we shortlist candidates for the majority of projects on our platform. Often, due to the confidential nature of our clients’ projects, we do not release projects to our whole platform but using the matching technology and expertise of our internal team we select candidates who are the best fit for our clients’ needs. This approach also ensures engagement with our community of professionals on the Fintalent platform, and is a benefit both to our clients and independent professionals, as our freelancers have direct access to the roles best suited to their skills and are more likely to take an interest in a project if they have been sought out directly. In addition, if a member of our community is unavailable for a project but knows someone whose skill set perfectly fits the brief, they are able to invite them to apply for the role, utilizing the personal networks of each talent on our platform.

Which skills and expertise do your Fintalents have?

The Fintalents are hand-picked and vetted Revenue Recognition professionals, speak over 55 languages, and have professional experience in all geographical markets. Our Revenue Recognition consultants’ experience ranges from 3+ years as analysts at top investment banks and Strategy consultancies, to later career C-level executives. The average working experience is 6.9 years and 80% of all Fintalents range from 3-12 years into their careers.

Our Revenue Recognition consultants have experience in leading firms as well as interfacing with clients and wider corporate structures and management. What makes our Revenue Recognition talent pool stand out is the fact that they have technical backgrounds in over 2,900 industries.

How does the screening and onboarding of your Revenue Recognition talent work?

Fintalent.io is an invite-only platform and we believe in the power of referrals and a closed-loop community. Members of our community are able to invite a small number of professionals onto the platform. In addition, our team actively scouts for the best talent who have experience in investment banking or have worked at a global top management consultancy. All of our community-referred talent and scouted talent are subject to a rigorous screening process. As such, over the last 18 months totaling more than 750 hours of onboarding calls, of which only 40% have received an invite-link after the call.

What happens if I am not satisfied with my Revenue Recognition consultant’s work?

During your initial engagement with a member of our Fintalent talent pool with no risk. If you are not satisfied with the quality of your hire for any reason then we are able to find a replacement at short notice. There is no minimum commitment per project, but generally projects last at least 5 days and can last 12+ months.

We are a community-based M&A staffing platform.

With our platform, you can fill full-time M&A roles, or staff your team with a Revenue Recognition expert when you need an extra hand.

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Everything you need to know about Revenue Recognition

What is Revenue Recognition?

Revenue recognition is the process in which you should calculate your revenue for the current period. This includes figuring out what income tax rate to use, recognizing revenues that have been deferred, marking them off the balance sheet only when they are legally received, and compounding interest for any delays in receiving cash. It is the process of recognizing (or recording) revenue. The concept of “when” to recognize revenue is important, because if different accounting methods are used, the bottom-line net income will be affected. The rules for determining when to recognize revenue are fairly straightforward; however, there are some complexities that can arise. The complexity arises primarily from transactions that specifically do not qualify as revenues or that may defer recognition of revenue until later in time periods.

Recognition is something which must be done by all businesses so they may show their financial information fairly on balance sheets and income statements. The objective of this process is to correctly and fairly record the amount of money received and the cost associated with providing goods and services. Revenue recognition is a significant component of financial accounting. The issues relating to revenue recognition can be very complex. For example, one question that arises frequently relates to how much effort should be expended in order to obtain payment from credit customers. Existing business may be extended additional credit based on the quality of their historical operations, but new customers usually receive less favorable terms until they establish themselves as reliable payers. Many companies choose to write off accounts receivable when it is obvious that they will not be able to collect the money owed. This issue often arises when the debt is uncollectible and the cost of collection exceeds the amount that can be realized in a liquidation or sale of assets. It is important to note that revenue recognition requirements differ depending on how long it has been since the transaction occurred and whether or not credit customers are involved. The following sections discuss these distinctions and address various other issues related to revenue recognition.

When revenue is recognized depends on the type of goods or services that were sold. The two major factors that affect how long it can take for revenue recognition are

(1) whether the contract provides for performance over time, and

(2) whether the company is using an accrual basis of accounting.

Revenue recognition for companies with contracts providing for performance over time is discussed in Reference 1. Companies using an accrual basis of accounting generally recognize revenue when all four important criteria are met. There are several issues involving revenue recognition which are not specifically tied to when the revenue is recognized. These issues are related to the accounting for

(1) leases,

(2) delivery orders,

(3) prepaid expenses and

(4) deferred costs.

A company can recognize revenue in advance of when the product is sold. This is true in the case of sales to customers who do not make frequent purchases or in long-term contracts. If this occurs, the cost of the item must be included in inventory at that time. This allows for revenue recognition when the item is sold by reducing the amount on hand inventory. An important aspect of determining when revenue should have been recognized relates to how it affects current income. If revenue is recognized too soon or too late, it can have a significant effect on net income. The following examples illustrate the importance of revenue recognition. When you are running your own small business, accounting for business expenses can be difficult enough without adding additional complications. Revenue recognition is a process with four primary steps:

Step 1: Determining the Revenues in a Quarterly or Annual Period

Revenue in a calendar year that you need to track. These revenues are totaled in your income statement in your quarterly tax filing, and then in your annual return on taxes. Because you will be recording these costs in books that are going to be used for accounting purposes for quite some time, it is important to make sure that the accounts treated as revenue have been properly accrued or charged off when they should have been. You can use the chart below to help determine if any of the amounts have been accrued or charged off.

Step 2: Identifying the Revenues that have been Deferred

Revenues may have been deferred for a number of reasons, but most commonly they were either incurred during one accounting period but received in another, or due to circumstances involving the timing of cash receipts and cash payments. It is important to account for these revenues in your financial statements so they do not have to be expensed multiple times. For example, if sales are made on credit to your customers over the course of several months, each sale will generally be recorded at that time. However, you will eventually receive all or some of those sales back as cash payments with interest earned on the amount owed by your customers.

Step 3: Marking the Deferred Revenue to the Income Statement When it is Not Being Used

You need to determine whether or not you can defer revenue for these amounts, and if so, record them as deferred revenue on your income statement. This will be true for any revenues you can defer because if certain costs (such as interest costs) are also deferred then they will also be later expensed. Some examples of deferred revenue are resales of your inventory sold to customers that will be returned at their end of the year, prepaid expenses like invoices that vendors will provide before you receive them (prepaid expense), and prepaid legal services by an attorney that you will use later.

Step 4: Compute Impairment of Deferred Revenue

There may be times when you need to take impairment of deferred revenue. This could be for reasons such as if sales are lower than anticipated, the customers to whom the sales were made go bankrupt before you received payment, or another reason to make it impossible for you to recover this money. Some examples include significant changes to your revenue estimations through the course of the next reporting period, or if it is clear that these revenues will not come in at all. It does not matter how accurately you forecasted your revenues because even the best forecasting period can be significantly different than what actually happens within that time period.

Business managers should have a strong understanding of their business processes before attempting to calculate revenue recognition. If additional information is required or business managers are unable to handle this important task on their own, they can always reach out Fintalent, the collaborative platform for tier-1 Strategy and M&A Professionals for additional guidance and appropriate tax preparation.

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