OCIMA Members: 
 
March is an important month for the OC IMA for two reasons.  First, we will hold elections for your Board of Directors.  Second, our speaker will update the chapter on the new GAAP for revenue recognition “Revenue Recognition - Multiple-Element Arrangements.” 
 
At the February dinner meeting we requested nominations for Board of Director Positions.  We would love to see some new faces on the Board for 2010 – 2011.  There is a Board or Committee position for almost any level of time commitment.  The Board Officers include:
 
President
Vice President
Treasurer
Secretary
Membership Chair
Programs Chair
Arrangement Chair
Sponsor Liaison
Communications Chair
CPE Chair
 
If you can think of qualified members or if you are interested in a position please send in the nomination to Debbie at adminocima@gmail.com.  “Stepping up” is a great way to build long-lasting relations in the profession.  I will begin by nominating Neal West for President and myself for Membership Chair!
 
Again, our speaker for March is very timely.  Erik Ekstrom, Partner, Deliotte will present the new rules for revenue recognition.  It used to be that SOP 97-2 defined GAAP for Software recognition and that was it.  For now SOP 97-2 remains, but in addition, the new EITF 08-1/ASC 605-25 will cover all industries and companies with multiple element arrangements.  This change affects many organizations so you will not want to miss the meeting.
 
I look forward to seeing you on the 24th.  Please register early and save!

      

Regards,

Ken Tudhope
OCIMA President 2009-2010