Back to results
US 7,890,391 B2Granted
System and method for implementing a revenue recognition model
AssigneeFujitsu Limited
InventorJaideep J. Shah
Life of this patent
Estimating the term…
Abstract
A system and method for implementing a revenue recognition model in an automated environment includes receiving rules, over a communications network, associated with an entity. Information associated with a transaction is received, and one or more automated processes are implemented to determine whether revenue from the transaction is recognizable.
Claims17
A method for implementing a revenue recognition model in an automated environment, comprising:
- receiving rules associated with an entity, the rules received at a financial computing system via a communications network to which the financial computing system is coupled;
- receiving information associated with a transaction at the financial computing system;
- determining a user of the financial computing system to respond to one or more questions associated with the transaction;
- communicating, over the communications network, the one or more questions to the user;
- receiving a response to one or more of the questions from the user at the financial computing system;
- communicating information associated with the transaction for a user to verify;
- receiving verifications;
- implementing, at the revenue recognition module of the financial computing system, one or more automated processes to determine whether revenue from the transaction is recognizable based on the received information associated with the transaction and the received response to one or more of the questions;
- if revenue is recognizable, removing the transaction from an accounts receivable module of the financial computing system;
- recognizing the revenue as current revenue if the entity has earned a payment for the transaction;
- recognizing the revenue as deferred revenue if the entity has not earned the payment for the transaction;
- and
- updating a general ledger of the financial computing system to reflect revenue of the transaction as a selected one of current revenue and deferred revenue.
10 more elements
Software embodied in a computer readable medium for implementing a revenue recognition model in an automated environment, the software operable to:
- receive rules, over a communications network, associated with an entity;
- receive information associated with a transaction;
- determine a user in the entity to respond to one or more questions associated with the transaction;
- communicate, over the communications network, the one or more questions;
- and
- receive a response to each question;
- communicate information associated with the transaction for a user to verify;
- receive verifications;
- implement one or more automated processes to determine whether revenue from the transaction is recognizable;
- if revenue is recognizable, remove the transaction from an accounts receivable module;
- recognize the revenue as current revenue if the entity has earned a payment for the transaction;
- recognize the revenue as deferred revenue if the entity has not earned the payment for the transaction;
- and
- update a general ledger to reflect revenue of the transaction as a selected one of current revenue and deferred revenue.
11 more elements
A system for implementing a revenue recognition model in an automated environment, comprising:
- means for receiving rules, over a communications network, associated with an entity;
- means for receiving information associated with a transaction;
- means for determining a user in the entity to respond to one or more questions associated with the transaction;
- means for communicating, over the communications network, the one or more questions;
- and
- means for receiving a response to each question;
- means for communicating information associated with the transaction for a user to verify;
- means for receiving verifications;
- means for implementing one or more automated processes to determine whether revenue from the transaction is recognizable;
- means for removing the transaction from an accounts receivable module if revenue is recognizable;
- means for recognizing the revenue as current revenue if the entity has earned a payment for the transaction;
- means for recognizing the revenue as deferred revenue if the entity has not earned the payment for the transaction;
- and
- means for updating a general ledger to reflect revenue of the transaction as a selected one of current revenue and deferred revenue.
11 more elements
Dependencies are inferred from the claim text.