I have extensive experience applying ASC 606, ensuring compliance with its five-step model for revenue recognition. In my previous role, I led the implementation of ASC 606 across multiple business units, streamlining processes and improving accuracy. I regularly collaborate with cross-functional teams to assess contract terms, identify performance obligations, and allocate transaction prices. My expertise ensures accurate financial reporting and adherence to regulatory requirements, minimizing risks and enhancing transparency.

I prioritize accuracy and timeliness by establishing robust workflows and leveraging automation tools. I create detailed checklists, assign clear responsibilities, and set deadlines for each step of the revenue close process. Regular reconciliations and variance analyses help identify discrepancies early. I also foster open communication with teams to address issues promptly. By maintaining a structured approach and utilizing technology, I consistently deliver accurate financial results within tight deadlines.

I approach complex contracts by breaking them into distinct performance obligations and allocating transaction prices based on standalone selling prices. I collaborate with legal and sales teams to understand contract terms and ensure proper documentation. My focus is on aligning revenue recognition with delivery milestones and compliance with accounting standards. This method ensures accurate financial reporting and mitigates risks associated with revenue misstatements.

I believe in fostering a collaborative and growth-oriented environment. I provide regular feedback, set clear expectations, and offer training opportunities to enhance team skills. By delegating responsibilities based on strengths, I empower team members to take ownership of their work. I also encourage open communication and problem-solving, ensuring the team feels supported and motivated to achieve both individual and organizational goals.

I stay informed by attending industry seminars, participating in professional networks, and subscribing to accounting publications. I also collaborate with external auditors and consultants to gain insights into regulatory updates. Regularly reviewing guidance from standard-setting bodies like FASB ensures I remain current. This proactive approach allows me to implement changes effectively and maintain compliance with evolving standards.