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February 2012

  

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

The New Revenue Recognition Draft: Companies React
Summary:
Initial preparer reaction to the latest revenue recognition proposal has been mostly positive, but criticisms have surfaced.

The Financial Accounting Standards Board and its international counterpart, the International Accounting Standards Board, are so far getting generally high marks from companies for their joint revision of revenue recognition accounting. But the devil still lies in the details.

Proposed Accounting Standards Update (Revised)—Revenue Recognition (Topic 605), released as an exposure draft in November, goes into effect as soon as 2015, with full retrospective application going back to 2013, and will require public companies throughout the world to... read more

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Convergence – The Value is in the Connections
Active learning. Networking opportunities. Solution optimization.
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Convergence is where opportunity and innovation meet to deliver real business value. It’s the chance to make key business connections and to discover the full potential of Microsoft Dynamics solutions... + details

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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