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- Financial Statements
- summaries of accounts to provide information for interested parties. The most common financial statements are trading and profit and loss account; profit and loss appropriation account; balance sheet; cash flow...
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- Notes To Consolidated Financial Statements
- This article presents the policies which are adopted by International Business Machines Corp. regarding consolidation of its annual accounts, the appropriate use of estimates in accounting, the revenue recognition in terms of services, hardware business, software business, financing and multiple element arrangements. Further, it describes the policies adopted by the...
- White papers 2003-01-01
- Issues Relating To The Recognition of Revenues And Liabilities
- Revenue usually is the largest single item in financial statements and studies indicate that revenue recognition is the single largest category of financial statement restatements. Consequently, issues involving revenue recognition are among the most important - and the most difficult - that standard setters and accountants face. This proposal discusses...
- White papers 2003-01-01
- Revenue Recognition, Reporting Discretion And Aggregation In Contracting
- From the executive summary: ‘The paper uses a two period principal-agent model to compare the value of financial statement information in contracting under two accounting standards: Market Value MV and Historical Cost HC. HC and MV accountings differ because the manager may report discretionary income under MV but not under...
- White papers 2002-10-01
- FASB's New Agenda
- From the executive summary: ‘When it comes to revenue recognition, the Financial Accounting Standards Board says examples of the issues that will be explored include revenue arrangements involving multiple products or services, and the effect on revenue recognition of customer rights of return. Revenue recognition is the largest single category...
- White papers 2002-01-16
- The Effects of Limiting Accounting Discretion on the Informativeness of Financial Statements: Evidence From Software Revenue Recognition
- This paper examines the effects on the informativeness of software companies' financial statements of limiting the amount of discretion with respect to software revenue recognition following the issuance of Statement of Position 91-1 in 1992. The requirement that companies adopt SOP 91-1 by restating earnings for prior periods allows to...
- White papers 2001-01-01
- Revenue Recognition Disclosures in the Pharmaceutical Industry July 2005
- This document serves as a benchmarking tool for revenue recognition disclosures in the pharmaceutical industry. The first section of this document accumulates the Critical Accounting Policies disclosed in Annual Reports of selected companies (generally their Management Discussion & Analysis section) and is followed by a section displaying the Revenue Policies...
- White papers 2005-08-08
- Defending Managed Earnings Cases by Understanding Revenue Recognition
- In sum, the consequences of improper revenue recognition in corporate financial statements can be catastrophic. Courts have found that corporate financial statements that improperly recognize revenue and fail to conform to GAAP constitute presumptively false and misleading statements and violate Rule 10b-5.14 But distinguishing what is permitted from what is...
- White papers 2004-07-09
- TAM Addresses SAB 101 Revenue Recognition Issues
- In December 1999, the SEC issued Staff Accounting Bulletin SAB 101, Revenue Recognition in Financial Statements, to provide guidance on revenue recognition for publicly traded companies. The paper offered a range of fact patterns with conclusions on the proper timing of revenue recognition for financial statement purposes. As a result...
- White papers 2003-07-01
- Revenue Recognition: A Perennial Problem
- With most companies having completed their first internal control attestation - and thus, with less demanding focus on Sarbanes-Oxley Section 404 at least in the short run - attention for many is shifting to revenue recognition. The topic is still a main priority for standard-setters and regulators, as well as...
- White papers 2005-07-01
- Lessons Not Learned at ITT Educational Services
- ITT Educational Services reported that new student enrollment increased 27.2 percent to 27,738 in its third quarter. With private sector lending still in decline, the for-profit educator is increasingly funding growth through an internal loan program. Despite more lending to sub-prime enrollees, few industry watchers seem concerned that the emperor...
- Blog posts 2009-11-18
Additional Resources
- FASB Call to Action Solicits Input That May Lead to New General Standard Addressing Revenue and Liability Recognition Issues in Future Financial Statements
- Business/Technology Editors CANTON, Mass.--BUSINESS WIRE--Feb. 13, 2002 Softrax CEO Bob O'Connor Available to Speak on Details of Present General Standard and its Effects on Current Revenue Management Practices Recent studies, performed by the Financial Accounting Standards Board FASB, indicate that revenue is often the largest...
- Research articles 2002-02-13
- AICPA Publishes Revenue Recognition Guidance
- AICPA published Audit Issues in Revenue Recognition .The publication brings together in one source the audit and accounting guidance on revenue recognition for sales of goods and services in the ordinary course of business. Its primary objective is to help auditors fulfill their professional responsibilities with regard to auditing assertions...
- White papers 1999-01-01
- Salix Pharmaceuticals Reports FY2000 Financial Results
- Business Editors/Health & Medical Writers BIOWIRE2K RALEIGH, N.C.--BW HealthWire--Feb. 13, 2001 Salix Pharmaceuticals, Ltd. (NasdaqSC: SLXP) today announced operating results for the fourth quarter and year ended December 31, 2000. In the fourth quarter of 2000, Salix implemented the Securities and Exchange Commission's SEC Staff Accounting...
- Research articles 2001-02-13
- Occam Networks Announces Update on Audit Committee Review; Pending Restatement of Prior Period Financial Statements and Extension of NASDAQ Listing
- SANTA BARBARA, Calif. -- Occam Networks, Inc. (NASDAQ:OCNW) today provided an update on its Audit Committee's previously announced review of the Company's historical revenue recognition practices.
- Research articles 2007-09-12
- Revenue Recognition : More Stringent Rules on the Horizon
- Determining and reporting revenues are among the most critical issues in financial reporting. Indeed, the timing of revenue recognition affects both the top and bottom lines of the income statement as well as the balance sheet. Such timing can have a significant impact on share prices as investors compare actual...
- White papers 2001-12-01
- The Revenue Recognition Project
- In May 2002, the FASB added a project on revenue recognition to its technical agenda. That project will develop a comprehensive Statement of Financial Accounting Standards that applies to all industries. Comprehensive guidance on revenue recognition has not previously been developed in the United States. Instead, a variety of standard-setting...
- White papers 2002-12-24
- SEC Staff Accounting Bulletin No. 101--Revenue Recognition in Financial Statements (2000).(Securities and Exchange Commission)
- An analysis is presented of the views of the staff of the Securities and Exchange Commission SEC on revenue recognition requirements of generally accepted accounting principles to be used in financial reporting. Registrant companies face a signific An analysis is presented of the views of the...
- Research articles 2001-10-01
- Revenue Recognition Revolutionized
- The Brave New World of RFID Chips Years ago, the "ka-ching" of a cash register signaled the appropriate time to recognize revenue. With the advent of radio frequency identification RFID chips, revenue recognition in the future may be signaled by a "beep." Advances in technology, such as RFID...
- Research articles 2006-07-01
- CV Technologies Plans Revisions to Financial Statements in Keeping With Changes to Its Revenue Recognition Policy.
- EDMONTON, ALBERTA, Apr 11, 2007 CCNMatthews via COMTEX -- CV Technologies Inc. (TSX:CVQ) today announced that the Company has decided after careful review that its consolidated financial statements for the year ended Sept. 30, 2006, as well as its interim consolidated financial statements for the first...
- Research articles 2007-04-11
- InterDigital Provides Update On Revenue Recognition
- Business Editors/Hi-Tech Writers KING OF PRUSSIA, Pa.--BUSINESS WIRE--June 29, 2000 InterDigital Communications Corporation (Nasdaq: IDCC), a leading wireless technology provider, today announced that it has concluded its analysis in response to the Securities and Exchange Commission SEC Staff Accounting Bulletin No. 101 "Revenue Recognition in Financial Statements" (SAB...
- Research articles 2000-06-29
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