In This Issue
Welcome to Softrax eNews, the Inside Track on Revenue Management.
The FASB has been on fire lately (as well as under.) While there has been a great deal of attention focused on the banking crisis, below the radar, fundamental changes in revenue recognition accounting are also being considered. The FASB/IASB proposal "Preliminary Views on Revenue Recognition in Contracts with Customers" outlines an entirely new approach to revenue accounting based on performance against contractual obligations.
This proposal could have significant impact on key issues such as how the elements of an agreement are defined, how prices are determined, and the timing of revenue recognition. It would 
bring sweeping change to US GAAP and could lay the groundwork for a much smoother transition or merger with IFRS.
RevenueRecognition.com recently surveyed 515 companies about the FASB/IASB proposal. This survey shows broad support for the key concepts with strong concerns from industries such as construction, defense, engineering, services, and software. Download the full report "A New Model for Revenue Recognition".
The FASB/IASB proposal warrants close reading and consideration by everyone who would have to manage the impact of a new model for revenue recognition. We encourage you to submit a comment letter on issues that may be of concern for your organization. The deadline is June 19, 2009. Letters can be emailed to: director@fasb.org, File Reference No. 1660-100.
Warm Regards,
Softrax
Live Webcast – Timing the Software M&A Market: It’s Not As 
Simple As It Seems
On Monday, June 29th at 1:00 p.m. Eastern Time, Ken Bender, founder and Managing Director of Software Equity Group, provides an in-depth look at the M&A climate, and how most sellers have "left the building" despite the fact that many could realize a strong exit today.
EITF 08-9: Milestone Method of Revenue Recognition
—Featured on RevenueRecognition.com
On April 7, 2009 the EITF published a draft abstract of EITF 08-9, "Milestone Method of Revenue Recognition." If approved, EITF 08-9 will introduce a new method of revenue recognition that allows vendors to recognize the revenue associated with a contractual incentive or bonus at the time that obligation is fulfilled instead of systematically over the time of the contract.
Your organization under IFRS
John Barnes, Partner, Grant Thornton, provides an insider’s view into what IFRS is and how it will impact your accounting, internal controls, tax and technology functions.
EITF 08-1, Revenue Recognition and You
Renowned Revenue Recognition expert, Tony Sondhi, discusses the FASB Emerging Issues Task Force Issue No. 08-1, Revenue Arrangements with Multiple Deliverables.
How to Get the Most Out of your Business During Challenging Times
Learn how you can deploy key business improvement solutions that help you maximize your revenue and optimize your processes.
Debrief on EITF 08-1: Revenue Arrangements with Multiple Deliverables
—Featured on RevenueRecognition.com
The latest EITF Issue for revenue would modify EITF 00-21. Changes include modified criteria for separating multiple elements and limited use of estimated prices - which would permit many more elements to be recognized as separate accounting units potentially accelerating the recognition of revenue for delivered units.
Laying the Foundation for Automating Revenue Accounting
Automating revenue recognition processes provides tangible improvements. This white paper from BearingPoint and Softrax, explains why companies should automate their revenue processes, and how to successfully manage each phase of the implementation process from strategy to scope, design, and execution. 
SPOTLIGHT
Complete Billing and Revenue Management Solutions
Are you managing innovative business models with an old school financial infrastructure? Softrax provides end-to-end solutions to manage operational and accounting processes such as revenue recognition, complex billing, contract 
renewals, order management and more.
(Approximately 10 minutes)
Revenue Recognition for ERP
Does your ERP system do revenue? Working in concert with your existing ERP and Financials infrastructure, Softrax Revenue Manager fully automates revenue recognition, reporting, and forecasting throughout the enterprise.
(Approximately 10 minutes)
A New Model for Revenue Recognition
RevenueRecognition.com recently surveyed 515 companies about the FASB/IASB proposed contract-based model for revenue recognition. This model represents a fundamental change for revenue accounting and comes with many questions about applicability and feasibility. This survey shows broad support for the key concepts with some strong dissent from industries such as construction, defense, engineering, services, and software.
Managing Revenue Recognition in Concert with your ERP System
Learn how you can enhance your ERP and Financial Systems with advanced revenue recognition capabilities. Featured speaker is Dr. Richard Moore, Director of Revenue Solutions for Softrax.
Coordinating Complex Billing and Revenue Recognition
Managing rapid growth, complicated pricing, and changes to their business model required this mobile messaging provider to eliminate manual accounting processes. The deployment of a Softrax solution reduced billing time from two weeks to two days, improved cash flows and the accuracy of revenue processes, freed personnel to spend time on more meaningful activities, helped prepare for a new acquisition and enabled them to scale without additional personnel.
Upcoming Educational Seminars
2009 Executive Seminars on Revenue Recognition
Softrax is a sponsor of the following executive education providers and these CPE accredited courses.
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Currently a member of the Emerging Issues Task Force (EITF) of the Financial Accounting Standards Board (FASB), Dr. Sondhi’s events are designed for CFOs, controllers, financial reporting managers and others responsible for understanding and applying current accounting rules. |
Spring 2009 Schedule: |
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Introduction to Revenue Recognition |
Advanced Topics in Software Revenue Recognition |
