Revenue Recognition Business Processes

Ensuring complex business environments are Sarbanes-Oxley compliant.

With Khameleon in place, you can rest assured that your project accounting system meets regulatory compliance mandates. Khameleon's financial engine has the power to control revenue recognition in complex business environments:

• Provides flexible configuration options, which allow companies to match a wide range of business models, including operations with multiple sites and with multiple international entities.
• Applies business rules to ensure multi-currency compliance with FASB 52.
• Implements multiple revenue recognition schemes, such as time and materials, cost plus, fixed rate, recurring revenue, and deferred until time of invoicing.
• Implements multi-element contracts, consolidated billing arrangements, and complex billing schedules, ensuring adherence to your revenue recognition rules.
• Manages contract expiration and renewal processes.
• Applies contract rate changes to multi-tiered contracts.

Khameleon's analytics deliver revenue recognition performance reports to the CEO, CFO, finance manager, and people in any other role you choose.

Khameleon's applications allow users to capture the costs associated with each project at the detail level, so all employee and sub-contractor labor, materials, and project expenses are applied to the right project. Comparison reports of project revenue recognition and costs accrued offer all involved a detailed view of profitability patterns.

To learn more about Khameleon's Oracle-based project accounting applications and how Khameleon's revenue recognition business processes ensure compliance, talk to one of our project experts today at 800-655-6598.