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Trimble is following the US Generally Accepted Accounting Principles

US Generally Accepted Account US GAAP revenue recognition ongoing development future plans

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Posted 16 June 2016 - 07:20 AM

Trimble is following the US Generally Accepted Accounting Principles, also called US GAAP, adopted by the U.S. Securities and Exchange Commission (SEC).

 

In US GAAP, there are certain principles for revenue recognition.

 

In practice, the revenue recognition principles mean that employees, working for a company following the US GAAP principles, cannot reveal specified information regarding future plans, ongoing development or upcoming releases, features or launch of new products.

 

Employees are allowed to inform customers about ongoing fixing of defects related to software features which were working in a previous software release.

 

Employees are not allowed to discuss development regarding defects found in the latest software release.

 

If such information is provided to potential/current customers of the company, the revenue of the purchase can be recognized only when all the items have been delivered to the customer including the shared new update/upgrade or functionality.


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