Accelerators

ASC 606 Full Rev Rec

For most CROs, ASC 606 revenue recognition is still manual — pulling costs from multiple systems to calculate percent complete every month. This accelerator makes it systematic: every unit tagged to a performance obligation automatically drives a revenue calculation that builds up services, pass-throughs, and grants into both a Direct 606 and Full 606 adjustment, with an audit trail by period and direct ERP handoff.

ASC 606 Full Rev Rec at a glance

Features

Revenue Calculation

  • Percent-complete revenue recognition across services, pass-throughs, and grants (Full 606)
  • Automatic revenue calc updates as PAs approve units in the tracker
  • EAC and eligible revenue — current period and total
  • Forward-looking revenue forecast across the full study timeline

Audit & Compliance

  • Period-by-period audit trail by project
  • Contract value buildup including discounts, inflation, and windfall adjustments
  • Costs from time cards, accrued costs, vendor costs, and out-of-scope reductions

Structure & Integration

  • Parent-child project structure for global, multi-region studies
  • Direct handoff to Certinia Revenue Management or external ERPs (NetSuite, etc.) for journal entries
How It Works

Revenue calculations live on the parent project — one record per period, from project start through forecast.

Each record is driven by the performance obligation tagged on the units, so as PAs approve units in the tracker, the revenue calculation automatically updates.

The system calculates percent complete using the full cost basis — not just services — which is the methodology most CROs require for ASC 606 compliance.

Future periods are also calculated based on current forecasts, giving finance a forward-looking view of expected revenue recognition across the life of the study.

When the period closes, the record’s debit and credit distributions are pushed directly to the ERP as journal entries — no manual calculation, no spreadsheet, no translation risk.

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