SAN RAMON, Calif., April 25, 2016 (GLOBE NEWSWIRE) -- Armanino LLP, the largest independent accounting and business consulting firm based in California, announced today that its Revenue Recognition Management solution for Microsoft Dynamics AX7 is now available. This solution was designed for the unique needs of companies that sell multi-element arrangements (MEAs) that may include hardware, software, services, prepaid support tickets, and post contract support such as warranties or maintenance agreements.
With the new release, the Revenue Recognition Management solution has been enhanced to support expanded requirements from the new GAAP and IFRS standards, including ASC 606 and IFRS 15. New for AX7, the solution gives users the ability to reallocate revenue across multiple sales contracts as a single multi-element agreement.
“This latest release of Armanino’s Revenue Recognition Solution was built with the upcoming ASC 606 and IFRS 15 revenue recognition standards in mind,” said Tom Mescall, Armanino consulting partner-in-charge. “With compliance requirements set for 2017-2018, it’s crucial for companies to begin the process of meeting standards today. The Revenue Recognition Module eliminates the challenges faced by companies trying to comply with revenue recognition guidelines.”
Revenue Recognition Management for Dynamics AX helps companies to:
- Increase productivity through process automation, scalability and standardization
- Reduce the risks associated with a reliance on spreadsheets and manual processes, and prevent account error and restatements
- Ensure timely revenue recognition and faster close process
- Gain accuracy and visibility into revenue forecasts, revenue recognition and financial reporting
- Rapidly deploy best-in-class revenue recognition management functionality directly in Microsoft Dynamics AX
About ArmaninoLLP Microsoft Dynamics Practice
Armanino provides implementation, training and consultation for high-growth and enterprise organizations using business enterprise applications. As part of the Microsoft Life Sciences and High Tech Industry Partner Program, Armanino works hand-in-hand with Microsoft to develop comprehensive solutions, continuously teaming with Microsoft and independent testers to certify the quality and consistency of our design. The firm develops and delivers world class industry solutions and services for High Tech and Life Sciences. Armanino offers pre-built software modules for Microsoft Dynamics AX, GP and CRM modules such as Revenue Management, Supply Chain Interface, FDA Validation Toolkit, Warranty Management and Product Repair, Return Material Authorization (RMA) and Design Win. Firm leaders have presented on life science and technology industry solutions at the Microsoft Industry Summit. Armanino has published several industry-specific white papers and authors a widely read Microsoft- Dynamics blog.
About ArmaninoLLP
Armanino LLP (www.armaninollp.com) is the largest independent accounting and business consulting firm based in California and one of the largest in the United States. Armanino provides an integrated set of audit, tax, business management, consulting and technology solutions to companies in the U.S. and globally. The firm helps clients adapt and change in every stage of business from start-up through rapid growth to the sale of a company. Armanino emphasizes smart technology; leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business. Armanino extends its global services to more than 100 countries through its membership in Moore Stephens International Limited – one of the world's major accounting and consulting membership organizations. In addition to its core consulting and accounting practices, Armanino operates its division – AMF Media Group (www.amfmediagroup.com) a media and communications services agency. Its affiliates include Intersect Capital (www.intersectcapitalllc.com), an independent financial planning, wealth and lifestyle management firm, and The Brenner Group (www.thebrennergroup.com), an Armanino company dedicated to interim CFO and permanent placement services and a comprehensive suite of specialized financial and management services.