Revenue Recognition: Software (Portfolio 5103)

Description

Bloomberg Tax Portfolio 5103-2nd, Starczewski, Fritz, and Rowe, Revenue Recognition: Software (Accounting Policy and Practice Series) explains and analyzes revenue recognition issues specific to the software industry. The Portfolio 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, as codified in ASC Topic 985, to software arrangements. It also includes a detailed discussion of the allocation of fees in multiple-element software arrangements. This discussion includes analysis of the rules applicable to additional software deliverables, postcontract 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 nonmonetary exchanges involving software and the application of contract accounting to software transactions.

The third in an anticipated subseries of portfolios on revenue recognition, this work augments 5100, Revenue Recognition: Fundamental Principles (Accounting Policy and Practice Series), and 5101, Revenue Recognition: Product Sales and Services (Accounting Policy and Practice Series).

This Portfolio may be cited as Bloomberg Tax Portfolio 5103-2nd, Starczewski, Fritz, and Rowe, Revenue Recognition: Software (Accounting Policy and Practice Series).

Table of Contents

I. Introduction
II. Software Revenue Recognition- In General
III. Allocating Fees in Multiple-Element Arrangements
IV. Criteria for Recognizing Software Revenue
V. Nonmonetary Exchanges of Software
VI. Contract Accounting as Applied to Software Arrangements