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Revenue Recognition rules are good candidates for Business Rule Engines

The Business Rules Knowledgebase aims to keep you informed on the business rules market. Here's an item that just crossed my desk a few minutes ago.

Revenue recognition rules are hard to understand, they change often, they may be subject to interpretation, and they are difficult to program using conventional (i.e. procedural) programming languages. According the news item below, Pegasystems (a BizRules partner) is currently working on revenue recognition rules and timing rules.

I happen to know a little bit (very little!) about revenue recognition rules. One of our BIZRULES customers is successfully using the PegaRULES rules engine to manage and automate these types of accounting / financial rules. So I wouldn't be surprised if Pega begins to use its own proven rules engine to drive their improved internal revenue recognition process forward.

October 17, 2006 07:08 PM ET Pegasystems Delays Filing 3Q Report

CAMBRIDGE, Mass. (AP) - Business-process software company Pegasystems Inc. said Tuesday it will delay filing its third-quarter financial results while it continues an internal accounting review of the timing of revenue recognition for certain arrangements, including fixed-price services.

The company said it may restate previously issued financial statements when the review is complete. In the event of a restatement, Pegasystems said it expects that not more than $2 million of revenue previously reported through would be deferred into the 2006 third quarter or future periods.

source: http://news.moneycentral.msn.com/provider/providerarticle.asp?Feed=AP&Date=20061017&ID=6112462

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