Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: steve h who wrote (59331)	9/16/2000 7:00:22 AM
From: Ottuckie	Read Replies (1) \| Respond to of 122087

PSFT must defer its revenues from the past two quarters Here is the SEC filings Link sec.gov 10. REVENUE RECOGNITION PeopleSoft adopted Statement of Position ("SOP") 98-9, "Modification of SOP 97-2, Software Revenue Recognition, With Respect to Certain Transactions", on January 1, 2000 and has changed certain business policies to meet the requirements of this SOP. In December 1999, the Securities and Exchange Commission ("SEC") issued Staff Accounting Bulletin No. 101, "Revenue Recognition in Financial Statements" ("SAB 101") and amended it in March and June 2000 with respect to the effective dates. PeopleSoft is required to adopt the provisions of SAB 101 in its fourth fiscal quarter of 2000 and is currently in the process of assessing the impact of its adoption. While SAB 101 does not supersede the software industry specific revenue recognition guidance, which the Company believes it is in compliance with, once complete guidance is disseminated, SAB 101 may change current interpretations of software revenue recognition requirements, which could result in PeopleSoft recording a cumulative effect of a change in accounting principles in the fourth quarter of 2000, retroactive to January 1, 2000 and could require PeopleSoft to defer revenue recognized during the first two quarters of 2000 into subsequent periods.