Starting his career as a CPA at one of the big four public accounting firms – which included two years spent in auditing -- Jonathan Cochrane learned a simple truth.
Originally created as a job board for temporary workers (primarily in the restaurant and service industries), the business pivoted to become the leading mobile technology platform that is focused on connecting high-quality, vetted, hourly workers with businesses who need them. People looking to earn extra cash can now quickly and easily search for shifts and businesses have a more agile way to tap into workers who have been pre-vetted, and skill tagged to meet their needs.
Two things appear to be top of mind for business leaders in the Salt Lake City area, based on the turnout at a recent Next Ready Business Tour event – skiing and changing revenue recognition standards.
Leaders from Quicken, Nutanix, and KPMG took to the main stage at Oracle OpenWorld during this year’s SuiteConnect, offering some frontline perspective on upcoming changes to accounting standards.
For software and technology companies, billing and revenue is generally derived from the following elements; perpetual licenses, subscriptions, maintenance (potentially usage and/or hardware) and services. These different elements each have distinct rules to trigger billing and recognize revenue in accordance to local governing regulations. Finance tends to have a good handle on managing the rules and triggers across most elements, albeit some of this work may be managed manually with spreadsheets.