The Klarity Blog

When we at Klarity set out on our course to help Revenue Accountants achieve their contract review goals, we thought long and hard about the full contract review experience. We dedicated our first story on Medium to the problems that accountants are experiencing on a daily, monthly, and quarterly basis and walked through how Klarity can help.

Klarity, the leader in intelligent document processing for Revenue Accounting, Revenue Operations and Order Processing, today announced that longtime industry veteran Rama Krishna Pagadala has joined the company as Vice President of Engineering. Rama, who has built enterprise grade and consumer scale SaaS products including Skype for Business (Microsoft Teams predecessor), Skype for Android, and VR Platform for Enterprises, will lead Klarity’s entire engineering team.

In revenue accounting, we are constantly hearing about “the 5 steps of revenue recognition”. This 5 step process stems from guidance developed by the FASB. Let’s explore the reasoning behind the development of ASC 606 Revenue from Contracts with Customers as well as take a deep dive into the 5 steps and what they mean.