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2. Revenue Recognition for Software (25 points) a...




2. Revenue Recognition for Software (25 points) a. A software vendor sold $300,000 software to a customer. The price includes the software (no addition development or modification needed), the installation of the software and a one-year technique support. If the software can be purchased at a standalone price of $250,000 with the fair values of installation and one-year technique support of $5,000 and $57,500, respectively, how should the company recognize the sales price of $300,000 upon the delivery and the completion of the installation? You need to provide the supporting documents for your answer (i.e., ASC number). b. If an arrangement to deliver a software system, either alone or together with other products or services, requires significant future production, modification, or customization, what is the appropriate revenue recognition for the sales price agreed with its customer? Supporting documents for your answer is required" Requirement: 2 and half pages with Time New Roman 12pts doubled space


Paper#2079 | Written in 18-Jul-2015

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