June 1, 2009
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BY
SIMON PETRAVICK and STEPHEN G. KERR
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Article
Editor's note: This is a sidebar for "Protect Your Portable Data - Always and Everywhere." CPAs should understand their ethical, legal and regulatory responsibilities to safeguard data. The following listings direct you to primary sources: LAWS, REGULATIONS Federal laws Federal Trade Commission, Gramm-Leach-Bliley Act, Disclosure of Nonpublic Personal Information, tinyurl.com/8k3e6 Department of Commerce, National Institute of Standards and Technology, Federal Information Processing Standards (FIPS), csrc.nist.gov/publications/PubsFIPS.html Department of Education, Family Educational Rights and Privacy Act (FERPA), tinyurl.com/3ydvw Department of Health and Human Services, Office for
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November 1, 2008
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Article
A Deloitte online poll found that two out of five executives felt data volumes in their organizations are becoming unmanageable. Almost 20% of executives said their companies are not ready to handle complex discovery requests. Their greatest concerns about document discovery included: Expensive vendor or in-house costs to go through large volumes of files (47.5%) Damaged productions and exposure to sanctions due to error (16.3%) Failure to meet court-set deadlines (12.9%) According to Deloitte Financial Advisory Services LLP, data volume in general doubles every 18 to 24 months.
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April 1, 2008
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BY
Chuck Barnewolt
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Article
I find it ludicrous that your article, “Software Revenue Recognition on the Rise” (Dec. 07, page 50) not only insinuates but even goes so far as to actually state that companies are changing their business practices because of SOP 97-2. While the accounting profession, of which I am part, is indeed an honorable one, our profession should in no way dictate, or limit, how we, as businessmen, conduct business with our customers.
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December 1, 2007
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BY
Greg Regan, Tim Regan
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Article
EXECUTIVE SUMMARY Statement of Position (SOP) 97-2 provides guidance on applying GAAP in recognizing revenue from software and software-related transactions. The SOP provides instruction on recognition for licensing, selling, leasing or otherwise marketing software. As technology becomes further entrenched in consumer and enterprise products, companies outside of the traditional software sector are beginning to realize that the economic value of their offerings resides in the underlying technology—software—subjecting those products to software revenue recognition rules.
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