New #RevRec Standards Bring Big Changes in Banking

Banks both big and small may need to begin the difficult task of changing certain long-standing revenue recognition practices as a result of the new revenue recognition standard jointly released last year by the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) (collectively, the boards). How much a financial institution will be affected […]

Zuora CFO Tyler Sloat on Success in the Subscription Economy

Tyler Sloat

In September 2010, Tyler Sloat was named CFO of Silicon Valley-based Zuora Inc. Zuora’s billing software helps companies manage the subscription lifecycle for their customers, including pricing and packaging, acquisition, billing, collection, renewal and analytics on subscriber data. Shortly after Zuora announced $115 million in new private funding, Sloat spoke with SearchFinancialApplications. How does your […]

Photoshop Creator Thomas Knoll on Engineering Under A Subscription Model

Photoshop creator Thomas Knoll recently shared some interesting thoughts on engineering incentives under a subscription model to The Register: “I was originally quite concerned about the pricing model, in particular for photographers using Photoshop,” he says. “When Photoshop came out in Creative Cloud, I don’t think enough attention was paid to the pricing model for a […]

Boards to Clarify Revenue Recognition Guidance

One piece of news and more credence to an ever-growing assumption were the big takeaways from the latest meeting of the accounting minds. The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), in their joint meeting on Wednesday, proposed that some portions of their converged revenue recognition standard need to be ironed […]

Change is In the Air!

A new revenue recognition standard was released jointly by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) (collectively known as the boards) in May 2014. For over a decade, these standards have been worked on to become the single most important, industry-spanning topic ever tackled. Within the airline industry, for example, […]

7 Predictions for Smarter Connected Cars

What’s the difference between a technically connected car and a truly connected driver? That’s the $250 billion question facing the auto industry right now. Connected cars are here. We have about a year before the novelty of a new car arriving with Wi-Fi and integrated telematics wears off. We have maybe 18 months before over-the-air […]

Tien Tzuo On Sony, Subscriptions & 5 Predictions for the Future of Gaming

Sony is getting great reviews for the new Playstation Now platform, but they’re in good company when it comes to streaming game subscriptions: EA launched a popular Xbox One subscription program featuring a half-dozen of their popular games for $5 a month called EA Access in April, 2014. Xbox Live Games with Gold offers members […]

Tien Tzuo on CNBC: Wall Street’s Ongoing Struggle to Make Sense of the Cloud

From CNBC: Wall Street has become quite familiar by now with cloud computing. The model of delivering services over the Web has gained so much momentum that public market investors, who traditionally parked their tech dollars with Microsoft, IBM, Oracle and Cisco, have dozens of new stocks to choose from if they want growth. But […]

Health Care and Revenue Recognition in the Spotlight

Health Care Has Everyone’s Attention, Including Those Who Monitor Revenue The year 2014 was historic for the health care industry’s far-reaching implementation of the Affordable Care Act and the watershed announcement of a converged revenue accounting model. Now, consider this: the increasingly valuable implications of revenue recognition rest squarely at the axis of those two […]

Might Early Adoption Accompany FASB Delay

The distinct possibility that some on-the-ball companies might be granted early adoption status for the new revenue recognition rules is the latest tidbit to come out of the Financial Accounting Standards Board’s own readiness research. That development, plus the chance of additional rule-making in response to FASB findings, is being reported in Compliance Week and […]

Help is on the Way: TRG Tackles Revenue Topics

In June 2014, The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) announced the formation of the Joint Transition Resource Group for Revenue Recognition (TRG). The role of TRG is to keep IASB and FASB informed about possible hurdles predicted in the implementation of the new revenue recognition standards across all […]

Return on Investment: Benefits of Automating the Revenue Process

For RedEnvelope Inc., Valentine’s Day represents a seasonal opportunity for high expectations and similarly skyward sales projections. Unfortunately, the romantic occasion some years back precipitated shares in the online retailer of high-end gifts to tumble more than 25 percent. The sell-off followed drastically reduced fourth-quarter projections credited not only to weak heart-themed sales, but a […]