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Heads Up: Reconfiguring the Scope of Software Revenue Recognition Guidance

Volume 16, Issue 38

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The attached issue of Heads Up discusses the FASB’s recently issued Accounting Standards Update No. 2009-14, Certain Revenue Arrangements That Include Software Elements — a consensus of the FASB Emerging Issues Task Force. The ASU amends ASC 985-605 to exclude from its scope certain tangible products that contain software that functions together with nonsoftware deliverables to deliver the tangible product’s essential functionality.

Read more in the file attached below or visit the Heads Up Archive for past issues.

Heads Up and other information on accounting and financial disclosure also can be found in the Technical Library: The Deloitte Accounting Research Tool. Technical Library, a subscription-based research tool, includes material from the the Financial Accounting Standards Board (FASB), Emerging Issues Task Force (EITF), AICPA, Securities and Exchange Commission (SEC) and International Accounting Standards Board (IASB), in addition to our own accounting manual and interpretative accounting guidance. Updated every business day, the Technical Library has an intuitive design and navigation system. Powerful search features enable users to locate information quickly, at any time and from any computer. Additionally, Technical Library subscribers receive periodic e-mails highlighting recent additions to the Technical Library.