Paul Revere is most famously known for “The Midnight Ride” and his repeated warnings, “The redcoats are coming!” As it relates to the idea of improper revenue recognition, we opine his prescient chants would proclaim “The red ink is coming!” at the dawn of the restatement announcement. In a previous blog, we recently profiled Osiris […]
A Question on Stand-Alone Value for Delivered and Undelivered Items in a Multiple Element Arrangement
During one of the complimentary revenue recognition webcasts that I teach through Tensoft, an attendee asked the following question about the guidelines for multiple-element arrangements and the criteria for stand-alone value: “If I understand this correctly, only the ‘delivered item’ needs to have stand-alone value; the ‘undelivered item’ does not need to have stand-alone value […]
What would Benjamin Franklin say about Revenue Recognition?
The quote “An ounce of prevention is worth a pound of cure” is as prudent today as first written by American forefather Ben Franklin. As it applies to revenue recognition, the axiom is a truth we (at Tensoft) hold to be self-evident. Yet according to a 2014 report by Audit Analytics, revenue recognition accounted for […]
Webcast Preview: “Revenue Recognition for Technology Companies”
Tensoft & Novadek co-sponsored a revenue recognition webcast on October 22, 2015 presented by Silicon Valley Revenue Recognition Expert Jeffrey Werner. This webcast was free for everyone and the attendees received 1 CPE credit. Some of the topics covered in this webinar were software revenue recognition for multiple element arrangements and the relative selling price […]
Revenue Recognition Two Day Online Training
On Tuesday, August 25 and Thursday, August 27, from 9 AM to 12:30 PM, I’ll be teaching an informative online training course on the New Revenue Recognition Standard. Tensoft will be hosting this event, which we provide to the public for an outstanding value. Anyone interested in this topic – or any accountants who are seeking […]
How Revenue Recognition Can Help Align Sales and Finance (Instead of Pitting Them Against Each Other in a Spiral of Death)
Revenue recognition – and the finance team that applies it – often ends up being the bane of creative sales deals, seen as cramping the sales department’s ability to maximize the amount of money that they bring in the door. This is the natural result of the very different goals of finance and sales. Finance […]
The New Revenue Recognition Standard Q&A
Tensoft hosted another installment of our free revenue recognition series on June 16, and I presented on the topic of “The New Revenue Recognition Standard.” We covered both background information about this topic, as well as the most recent developments in the new standard. If you missed it, you can view the recorded session, at […]
Your Revenue Recognition Questions Answered!!
Tensoft hosted another complimentary one hour CPE-eligible webinar on the New Revenue Recognition Standard. This webinar entitled “How to Be Ready for the New Revenue Recognition Standard” featured revenue recognition expert, Jeffrey Werner. Jeffrey covered both the background information of Revenue Recognition and some detail concerning the most recent developments of The New Revenue Standard. […]
A Tensoft Customer Billing Management (CBM) Success Story
Here at Tensoft, we just happen to have many of the same business system needs as our customers, including a need for complex billing support. That’s understandable since Tensoft is a software company, as are many of our customers. And, in addition to developing and selling our software, we provide cloud, implementation and support services […]
Free Webcast: How to Be Ready for the New Revenue Recognition Standard
Be sure to join us for Tensoft’s next free webcast – this should be of interest to quite a few of you in Accounting at technology companies, or if you have clients in this industry. The topic will be “How to Be Ready for the New Revenue Recognition Standard,” and attendees will be able to […]