Armanino Launches New Solution to Streamline Financial Reporting
SAN RAMON, CA: Armanino LLP, an independent accounting and business consulting firm, announces the availability of its Revenue Recognition Management solution for Microsoft Dynamics AX7. The latest solution will help organizations that sell multi-element arrangements (MEAs). With the new update, users can reallocate revenue as a single multi-element agreement across multiple sales contracts.
The solution supports expanded requirements from the new GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards), including ASC 606 and IFRS 15. While GAAP is the standard financial accounting practice that accountants are required to follow when preparing financial statements, IFRS is the universal financial reporting methodology for business affairs so that company accounts are understandable and comparable across international boundaries. Eliminating the challenges that businesses face while proactive planning and analyzing their long-term financial strategy, Armanino’s solution will enable companies increase productivity through process automation, scalability and standardization.
“We are proud of our very experienced team that offers clients a deep understanding of financial reporting and FP&A (Financial Planning and Analysis). We provide business process best practices, along with Cloud Solution implementation, integration and strategy solutions,” says Dave Burlington, a partner in Armanino’s Cloud Solutions Consulting practice.
Armanino’s cloud solutions include cloud financials that includes budgeting, forecasting and planning; governance, risk and compliance as well as equity management solutions and customer relationship management (CRM). The firm also offers a complete range of financial and tax consulting and audit services, including IPO readiness support and SOX compliance.