Completed contract, Completed percentage, Fixed price projects revenue recognition, markup percent estimate line, markup percent total, Microsoft Dynamics 365 FinOps, Microsoft Dynamics 365 FinOps - Fixed Price Projects Revenue Recognition In-depth, sarang kusare, Straight Line revenue recognition, WBS revenue recognition, Work Breakdown structure revenue recognition
I have released a new paperback book called “Microsoft Dynamics 365 FinOps – Fixed Price Projects Revenue Recognition In-depth” on Amazon about the fixed price projects revenue recognition last Thursday .i.e. 27th September 2018. In this blog post i am going to talk about the book and the motivation behind that.
I knew basic fixed price projects revenue recognition and how to perform it in the system. However, when it came to knowing all the possible fixed price projects revenue recognition scenarios, i always had to dig the internet and find out how this scenario works and how that scenario works. And while doing that i realized that apart from the basic information about the fixed price revenue recognition, there was not much available on the internet. This triggered me write this book. I thought lets put all the logical and allowed scenarios on paper in details, along with the screenshots, explanation, supporting T-accounts, other relevant details, exceptions, shortcomings, specific behavior and have it all in one place, in one book. The aim was to stop looking the internet endlessly for this topic henceforth.
What i did initially was plotted all the permutations and combinations with all the elements of the project group like 4 values of ‘Revenue recognition accounting rule’, 3 values of ‘Calculation methods’ and 4 values of ‘Matching principle’ and put them on excel sheet. The number came somewhere around 36. Also added further scenarios when i brought the ‘Cost template’ and its values for ‘Completion based on’ in scope. This added few more permutations and combinations with ‘Straight line’ and ‘WBS’ type of revenue recognition further adding to the scope. However, after trying each one of them by setting them up individually in the system, i concluded that 11 unique scenarios are the ones which i should be writing about in this book.
I decided to name it as “Microsoft Dynamics 365 FinOps – Fixed Price Projects Revenue Recognition In-depth” as this book gives the in-depth explanation for all the 11 scenarios along with all the accounting and relevant supporting details in over 200 pages. The second important decision was to print this book in COLOR, as the screenshots had many markings in RED, which i wanted the readers to really look at and understand it at once. The aim was always to uncover this complex beast of revenue recognition engine for fixed price projects.
Being a functional consultant, i have always faced many situations when client used to ask questions about a specific revenue recognition scenario and whether that is possible in the system and can i explain it. My regular answer was, “Let me get back to you on this”, as i knew that this is a complex area and this needs thorough preparation before presenting it to the client. Now with this book in place, i am personally in a much better position than what i was earlier. Not that i would answer all the questions about this topic instantly but at-least the turnaround time on them and the confidence would be much higher. I seriously feel that consultants working in the area of ‘Project management and accounting module’ of Microsoft Dynamics 365 FinOps, should definitely have a read through of this book.
Amazon link for the book is as follows: http://amzn.eu/d/7cEcot9
If you happen to read the book and if you wish to provide any feedback, then don’t hesitate to email it to me on firstname.lastname@example.org. And if you like the book, then please write a review on Amazon, so that it would benefit other buyers too.