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.
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.
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.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.