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January 2012

  

There is a new resource article featured on RevenueRecognition.com that is now available:

Revenue Recognition: Hope to Cope With the New Standards
Summary:
The dust hasn’t yet settled on what the industry is calling the “iPhone rules” covering multiple-element revenue recognition, but CFOs need to get ready yet for yet another transition as FASB and IASB get set to converge on the topic.

The past decade or so has already seen a flurry of changing revenue recognition guidance, as regulators and standards setters scrambled first to catch up with dot.com bubble abuses and, ultimately, the changing nature of technology itself, as the old “pure” hardware/software rules became increasingly problematic in a world where everything from cell phones to aircraft to refrigerators was beginning to think for itself... read more

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The webcast recording and pdf presentation slides "Changes in Multiple-Element Revenue Guidance" are now available online. Webcast presented by Grant Thornton industry experts Christine Janis and Lynne Triplett. + view now

Insights on Revenue Recognition
Grant Thornton LLP’s newly updated Insights on revenue recognition: Navigating the maze of authoritative literature is a practical, plain-English resource to help you make the right choices when considering the highly complicated matter of revenue recognition.

Accounting for Software Provided as a Service
- Featured on RevenueRecognition.com
IAS 18 contains high-level general principles applicable to different industries and transactions. While US GAAP is based on the same principles, it contains more detailed implementation guidance and includes industry specific guidance, such as software, which results in more consistent revenue recognition.

Revenue Recognition under International Accounting Standard 18 - “Revenue” with Comparisons to US GAAP
- Featured on RevenueRecognition.com
In recent years vendors have been moving away from the traditional model of software distribution, often called the perpetual license model, in which the customer is provided with a license to use software which is installed and run on the customer’s hardware, to arrangements where the software is provided as a service with the customer accessing the software over the internet.

Revenue Recognition and Earnings Management
Summary: It’s a big, dirty and not-too-well kept secret: Some companies manage their earnings.

Whether they change the actual timing of real business activities or tweak revenue recognition or accruals, it is often easy enough for a CFO to make a particular quarterly number reflect the steady earnings growth demanded by the Street.

Do your products fall under software revenue recognition guidance?
-Contributed by Grant Thornton
As the prevalence of products with embedded software has grown, questions have arisen more frequently about whether vendors of these products should be accounting for them as sales of software or sales of tangible products.

NEW UPDATES: FASB/IASB Revenue Recognition Exposure Draft
Conducted live Tuesday, April 26, 2011
The FASB and the IASB have recently issued an Exposure Draft of their proposed changes to revenue recognition. Now is the time to get ready. This webcast is one in a series of webcasts that will discuss the basic principles and significant changes proposed in this ED.

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