Partner Solutions Showcase

GPUG Amplify

Practical Advice for Calculating Revenue Recognition Under ASU 606 Presented by Olympic Systems

Wednesday, March 22
2:45 PM - 3:15 PM
Room: Grand Ballroom J

Format: Presentation

CPE: N/A

Learn about the three revenue recognition models: At a point in time, Overtime, and as worked. Learn about the simplified methods called "Practical Expedients" that will simplify revenue recognition calculations for many contracts.

Jim Beers

President
Olympic Systems, Inc.

Jim founded Olympic Systems, Inc. in 1993 after becoming the first GP Dynamics VAR in Washington State. Olympic Systems became a leading VAR by focusing on larger, complex GP installations requiring special features available through customization. In 1999, we began work on Project Cost, a project cost accounting and financial reporting system. It is the most appropriate Project System available for Dynamics GP for government contractors.

Olympic Systems currently produces:
• Project Cost for Dynamics GP
• Exchange Rate Import for Dynamics GP
• Revenue Recognition supporting Financial Accounting Standards Board Accounting Standards Update 606 and International Financial Reporting
Standards 15 for any ERP system. This module will be offered in the cloud or on-premises.

Jim attended the University of Washington while earning a Bachelor’s of Science Degree in Civil Engineering and Harvard Business School while earning a Master’s in Business Administration. Prior to founding Olympic Systems, Jim served as Controller, Material Manager, Production Control Manager, and Systems Manager for a big 4 CPA consulting firm, an aerospace government contractor, and a medical equipment manufacturer.

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