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New BNA Portfolio Explores Revenue Recognition: Software

NEWS RELEASE

Contacts:
Mark Carrington
(703) 341-5880

Arlington, Va. (July 2, 2008) –BNA®, publisher of the authoritative and universally recognized Tax Management Portfolios, has released the latest addition to the Accounting Policy and Practice Series Portfolio 5103 Revenue Recognition: Software.

This Portfolio comprehensively explains and analyzes revenue recognition issues specific to the software industry. It includes an extensive analysis of the applicability and application of American Institute of Certified Public Accountants (AICPA) Statement of Position No. SOP 97-2, Software Revenue Recognition, to software arrangements. Revenue Recognition includes a detailed discussion of the allocation of fees in multiple-element software arrangements. The Portfolio also includes analysis of the rules applicable to additional software deliverables, post-contract customer support (PCS), and services other than PCS.

The Portfolio analyzes each of the four revenue recognition criteria, focusing on the issues that arise in arrangements that include software. The Portfolio also includes discussion of non-monetary exchanges involving software and the application of contract accounting to software transactions.

This Portfolio may be cited as BNA Tax and Accounting Portfolio 5103, Starczewski, Fritz, and Rowe, Revenue Recognition: Software (Accounting Policy and Practice Series).

George P. Fritz is a retired partner with PricewaterhouseCoopers LLP. Since retiring in 1999, he has served as a consultant, primarily to professional accounting organizations, including the Public Oversight Board, the Panel on Audit Effectiveness, and the American Institute of Certified Public Accountants (AICPA). He was a member of the AICPA's Accounting Standards Executive Committee (AcSEC) from 1991 to 1996 and the Auditing Standards Board from 2004 to 2007. He chaired several AcSEC task forces, including one on software revenue recognition. He also participated in the GAAP Codification project of the Financial Accounting Standards Board and has recently participated in the Financial Accounting Standards Board's “Generally Accepted Accounting Principles” (GAAP) Codification project. He graduated from Xavier University, A.B. (magna cum laude).

Mark S. Rowe has over 15 years of experience providing financial management to high growth public and private technology companies. He began his career in public accounting as a CPA with Arthur Young & Company and later with Peat, Marwick, Mitchell and Company. Since 1997, he has been a chief financial officer with Interim Management Services, LLC, Tatum CFO LLC, and, most recently, TLMI Corporation. He earned degrees from University of Texas, CPA, MBA and Ohio State University, B.S. (Accounting) (cum laude).

Lisa Marie Starczewski, Esq. served as Editor-in-Chief of the Villanova Law Review (1987-88) and has practiced law with Morgan, Lewis & Bockius and Schnader, Harrison, Segal & Lewis. She taught at the Villanova University School of Law. She also has co- authored multiple BNA Tax and Accounting Portfolios, including Revenue Recognition: Fundamental Principles; Revenue Recognition: Product Sales and Services; and Leases: Lessee Perspective and numerous Tax Management Portfolios. Starczewski has received the Tax Management Distinguished Author Award and is a member of the Tax Management U.S. Income Advisory Board. She earned degrees from Villanova University School of Law, J.D. (summa cum laude) and Smith College, B.A., (magna cum laude).

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BNA is the foremost publisher of print and electronic news, analysis, and reference products, including the recently launched Accounting Policy & Practice Series.  BNA publications intensely cover legal and regulatory developments for professionals in business and government. BNA is the oldest wholly employee-owned company in the United States, and produces more than 350 news and information services — including Daily Labor Report and Daily Tax Report — widely respected for comprehensive and objective reporting and analysis.

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