Revenue Management - eNewsletter

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April 2012

  

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

Question: When Is Revenue Not Revenue?

Answer: When it’s not collectible (maybe).
Historically it was always somewhat of a simple process to determine what was the amount of your company’s revenue. It was the top line of the income statement, regardless of whether it was called sales, net sales, revenue or some other similar caption. That amount represented the gross inflow of economic benefits during the period arising in the course of ordinary activities... + read more

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Upcoming Events

Can you gauge the level of exposure in your current revenue related internal controls and processes? Our checklist can help you find an answer, and deliver mission-critical information about revenue and Sarbanes-Oxley compliance in the process... + 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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