IS THE (ACCOUNTING) SOP 97-2 IN LINE WITH GAAP GENERALLY ACCEPTED ACCOUNTING PRINCIPLES? IF YES OR NO, WHY/HOW?

State of upon all sides 97-2 deals with program income approval
SOP 97-2, Software Revenue Recognition , provides superintendence upon when income should be famous as well as in what amounts for licensing, selling, leasing or differently selling mechanism software. It should be practical by all entities which consequence such revenue. It does not request to income warranted upon products or services containing program which is immaterial to the products or services as the whole.

{ 1 comment… read it below or add one }

rehman vohra April 16, 2010 at 2:25 pm

If I had access to SOP 97-2, I would have made comparison with IAS 18 – Revenue recognition. If you like you may visit iasplus.com where you will find a comparison of US GAAP with IAS. This will surely help you.

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