Test your financial reporting skills on the Revenue Recognition Challenge game

Congratulations! You've just been hired as the new CFO of Worldwide Faulty Enterprises where Murphy's Law is a corporate value. Only you can save the company and resuscitate its stock price.

The Revenue Recognition Challenge is a new game about the complexities of revenue recognition. There are three key concepts presented in the game:

  • Careful judgments are required to make the right revenue recognition and deferred revenue decisions.

  • Constant vigilance is needed to keep revenue recognition up to date with business activities and events.

  • Having an accurate picture of future revenue streams helps you make better strategic decisions about your business.

    Consider the ramifications of signing a contract to produce a reality television show, distribute the DVD to your company's Oscar-winning global warming documentary, expanding the capacity of your baseball park by adding executive suites, or produce a wine at your vineyard that receives lukewarm reviews from the critics.

    You can play the Revenue Recognition Challenge game online, at no charge. The Revenue Recognition Challenge game was produced by RevenueRecognition.com and is sponsored by Softrax.

    About RevenueRecognition.com

    RevenueRecognition.com is dedicated to educating finance professionals on revenue management and related issues. It focuses on revenue recognition, revenue reporting and forecasting; SEC, FASB, and Sarbanes-Oxley compliance; internal controls; corporate governance/ethics; M&A issues; contract management; and industry specific revenue challenges. Insights from leading practitioners and regulators are presented in a variety of resources including: articles, case studies, white papers, webcasts, user forums, surveys, compliance checklists, interviews, and excerpts. RevenueRecognition.com is sponsored by Softrax Corporation.

    About Softrax

    Softrax Corporation is a leading provider of enterprise revenue management and billing software solutions. Softrax solutions automate the entire revenue cycle, from revenue recognition, reporting and forecasting, through complex billing and contract renewals. Hundreds of corporations use Softrax to optimize their revenue, reduce operating expenses, comply with revenue recognition regulations and Sarbanes-Oxley requirements, and gain visibility into their business performance. More information can be found at www.softrax.com or by calling 1.888.4SOFTRAX.

    You may like these other stories...

    A proposal issued by the Governmental Accounting Standards Board (GASB) last week explains how fair value measurement should be defined for state and local government financial reporting.The exposure draft, Fair Value...
    By Jason Bramwell The board of trustees of the Financial Accounting Foundation (FAF) finalized a new policy on November 19 that provides the Governmental Accounting Standards Board (GASB) with direction on what...
    By Jason Bramwell The Governmental Accounting Standards Board (GASB) is now offering a free online toolkit designed to assist preparers and auditors of state and local government pension plans with implementing new...

    Upcoming CPE Webinars

    Jul 16
    Hand off work to others with finesse and success. Kristen Rampe, CPA will share how to ensure delegated work is properly handled from start to finish in this content-rich one hour webinar.
    Jul 17
    This webcast will cover the preparation of the statement of cash flows and focus on accounting and disclosure policies for other important issues described below.
    Jul 23
    We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
    Jul 24
    In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.