Assignment:
OpenText Corporation, with a market cap of $5.61 billion and annual revenues of approximately $1.7 billion, remains one of the top Canadian software companies. Headquartered in Ontario, the company cultivates and sells enterprise information management, or EIM, software solutions to major companies in a large variety of industries. Such software is designed to make optimal use of information within a company to enable company management to operate the business with the greatest efficiency OpenText software applications are utilized to manage content or unstructured data for many types of governance and monetization requirements for large companies, professional service firms and government agencies. When would revenue be recognized for OpenText? Would it be at time of sale? Would it be ime software is activated? Revenue recognition is quite the debatable topic in accounting nd this week you will learn how to best recognize revenue.
Pick a Canadian company listed on the Toronto Stock Exchange and find a revenue stream that you can apply the concepts of revenue recognition to the company chosen.