Learn about how to use the new features such as annotation, bookmarking and highlighting.
Peruse acknowledgements to find out whose expertise went into each section.
Welcome to PwC's Software Revenue Recognition website. Software revenue recognition has not gotten easier. However, one of the keys to success is having the right tools. With this in mind, we are pleased to present a new, updated, interactive version of our well known user-friendly guide for software revenue recognition. We have updated the instructional content to reflect the latest trends and challenges, including a new chapter dedicated to Software-as-a-Service. And by moving to a web-based format, we've enabled users to more easily navigate the many complexities of software revenue recognition. We've added the following features: Web 2.0 capabilities, Flip-through pages, Make and save notes, Highlight text, In-context search results, and easy access to other PwC thought leadership for software companies.
While a transition from US GAAP to IFRS appears a fait accompli, when it will happen remains uncertain. And it now appears that will come for revenue recognition in the form of the joint project between the FASB and IASB to issue a converged new standard governing revenue recognition for all industries (including software). The currently contemplated adoption date for the new standard is 2014. So, it appears that most of the global software industry will continue under SOP 97-2 until at least 2014. Yet, while US GAAP continues to apply, it will be imperative for software companies to begin soon to address the impending conversion. Visit our Dataline section on this site to see the latest guidance regarding the joint project on revenue recognition. Also, for those under US GAAP, applicability of SOP 97-2 has been impacted by the issuance of EITF Issue No. 09-3, which is also covered in our Dataline section on this site.
Keep tuned to this website where we will address these issues as they develop further. We hope this guide will continue to be your tool of choice to help you address the questions that will arise. PwC distinguishes itself in its practical applications of these complex rules. Please do not hesitate to contact me or the PwC professional nearest to you to discuss this subject and how we can assist you.
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Dean Petracca Pierre Marty Greg Unsworth
Ilja Linnemeijer Jessica Swain Meghan O'Halloran Mairead McElvaney Bernd Geißendörfer Pearl Chia Clare Matthews Danielle Finucane Andrea Alter Darlene Babcock Annelise Conway Simone Knott