Implementing Project Portfolio Management: From Organization Structure to Recognized Revenue · Module 15 · Project Billing: Formats, Events and Processing
Revenue recognition and accounting
Lesson 159 of 198 · 13 min
Run revenue generation for the contract. Review recognized revenue by contract line. Create accounting in draft, review, then final. READ THE REVENUE JOURNAL ALOUD. Show the unbilled and unearned accounts moving, and show revenue recognized on a percent-complete basis CHANGING as progress changes. Show the ledger entries. READ THE JOURNAL ALOUD AND NAME THE UNBILLED AND UNEARNED LINES. This is the lesson that lets a PPM consultant hold their own with a controller. THE PROGRESS STEP MAKES THE MODULE 10 DEPENDENCY REAL. Change progress, regenerate revenue, watch the number move. PROGRESS DATA IS REVENUE DATA. That line retrospectively raises the stakes on every progress lesson. Revenue is an audited number. The accounting must be right and explicable.
The full lesson is part of the course
The video, the complete written lesson and the module quiz are included in Implementing Project Portfolio Management: From Organization Structure to Recognized Revenue, with a certificate on completion and a fourteen-day refund window.