Revenue Recognition Compliance for IFRS and Gulf Regulations
Revenue Recognition
CFO Ventures applies IFRS 15 revenue recognition standards across Dubai, the UAE, Saudi Arabia, and the broader MENA region, ensuring finance teams achieve timely closures with auditor-approved figures.
We develop policies and establish controls for the five-step model: identifying contracts, defining performance obligations, determining and constraining transaction prices (including variable considerations), allocating to obligations, and recognizing revenue either over time or at a specific point.
Our expertise spans SaaS subscriptions and usage, B2B services, construction and long-term projects, multi-element arrangements, principal versus agent considerations, contract modifications, significant financing components, rebates, and discounts. We convert policy into a streamlined data model (contract assets and liabilities, unbilled receivables, deferred revenue), map ERP fields, and establish cut-over rules and month-end checklists.
Disclosures are crafted to meet IFRS standards with ADGM/DIFC expectations and are prepared for Saudi CMA review; tax implications for UAE corporate tax, GCC VAT, and Saudi Zakat are integrated to ensure revenue timing aligns with compliance. We assess impacts on ARR, churn, backlog, gross margin, and cash flow, providing succinct revenue memos, sample contracts, and testing templates to expedite audits.
For project-based businesses, we calibrate 'over time' measures (cost-to-complete, milestones) and working-capital benchmarks; for SaaS, we align pricing, upgrades, and credits with policy to prevent revenue leakage. Teams receive training and a monthly cadence—variance notes, contract reviews, and SOX-style control evidence—ensuring smooth operations across Qatar, Kuwait, Bahrain, and Oman.
If you require Revenue Recognition in the UAE or Saudi Arabia executed with precision and efficiency, we are prepared to assist.
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