– RevenueRecognition.com Contributor
Summary:
As revenue recognition accounting changes, companies are spending more time and money to keep up.
This is particularly true for software companies. AICPA Statement of Position 97-2, Software Revenue Recognition, was issued in an era when software was not embedded in as many products as is now the case and has rapidly become out of date. FASB’s ASU 2009-13 and ASU 2009-14 were effective for financial statements starting last year and set new rules for devices with embedded software and for nonsoftware multiple-element arrangements. Particularly daunting has been the need to document vendor-specific objective evidence (VSOE) or third-party evidence in the quest to determine the amount of revenue to book for a given item or service… + read more
Revenue Recognition 