Solutions

Revenue Compliance (IFRS 15 and ASC 606)

A decades-long rift is over. IFRS 15 and ASC 606, both entitled 'Revenue from Contracts with Customers', gave the world a unified set of guidelines for contract revenue recognition across all industries.

The regulations started as a joint project back in 2002 between the IASB and FASB to close the gaps between their differing policies and terminology related to accounting for revenue from customers with contracts.

How does Hamilton help?

One framework for financial reporting, eliminating inconsistencies in principles between different accounting boards.


New guidance for transactions that were lacking comprehensive guidance – such as service revenue and contract modifications.

Improved and clarified guidance for multiple-element agreements.


Simpler, clearer path to compliance for all businesses.

The Solution

IFRS 15 is a puzzle that can't be solved by accounting teams and spreadsheets alone. We're here to help. Adapting a business and its operations to IFRS 15 is what we do.

All companies, both public and private, are required to prepare their revenue contracts in compliance with IFRS 15 and ASC 606.

Achieving Compliance

The IFRS 15 revenue model has only five steps, which looks simple at first.

All companies, both public and private, are required to prepare their revenue contracts in compliance with IFRS 15 and ASC 606. The IFRS 15 revenue model has only five steps, which look simple at first.

Identification of contract
Identification of obligation
Price for transaction
Allocation of transaction for obligation
Recognition of revenue

But, your revenue data will need to be reprocessed from the start.

Global Impact

Certain industries are impacted by these regulations more than others. Hamilton is preconfigured to automate revenue accounting and recognition in multiple use cases across industries.

Telecom

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High Tech

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Engineering & Construction

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Professional Services

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Maintaining Compliance

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Lorem Ipsum is simply dummy text of the printing and typesetting industry.

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s,


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Delivery Models

The delivery model options for Hamilton are On-Premise and Cloud (starting Q1 2019). Our swift and simple implementation process is a standard feature for both.

On-Premise

Cloud

Pricing model License-based Software as a Service
(Saas) subscription
Rapid, pain-free implementation
Automatic regulatory compliance
Easy-to-use processes
Detailed help documentation

We’re ready when you are.