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Is your current Trade Promotion Management system FASB compliant?

Government scrutiny and regulations regarding accounting practices are at a heightened level in all industries, including the CPG sector. FASB Ruling 01-09 FASB has required that all trade promotion expenditures targeted for price reduction/in-store merchandising support be deducted from the quarterly gross revenue statements. This accounting regulation has resulted in many CPG manufacturers adjusting their revenue downward by 20% and more.


Evolving regulations and much tighter monitoring of CPG manufacturers' trade promotion expenditures has made it imperative to have a proven closed-loop trade promotion management system in place. Your TPM system should have the capability to electronically capture trade promotion liabilities and expenditures in real time and post it to a specific promotion plan. This process accomplishes 2 critical financial objectives in light of the recent government scrutiny.

 

All expenditures will be identified as soon as they occur to be able to monitor any unauthorized use of corporate funds. An exact accounting of all trade investment will be captured in real time, enabling accurate reporting of adjusted gross revenue as dictated by FASB. 

1. All expenditures will be identified as soon as they occur to be
   able to monitor any unauthorized use of corporate funds.


2. An exact accounting of all trade investment will be captured
    in real time, enabling accurate reporting of adjusted gross
    revenue as dictated by FASB.


Synectics Group has dedicated itself over the past year period in developing the industry standard closed-loop TPM software application, Account Review™ TPM. Account Review™ TPM will place your organization in a leading edge position to be compliant with the current and future government regulations, in addition to maximizing the effectiveness/efficiency of your substantial trade promotion investment.

For more information on FASB, click on this logo: FASB logo

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