The words "revenue recognition" and "hot" probably don't get used much in the same sentence. But  with the upcoming ASC 606 and IFRS 15 revenue recognition guidelines ready to complicate life for business, the software elements needed to deal with the upcoming complex rules is emerging. It's also an area that promises a lot of work for accounting firms. Intacct has launched Intacct Contract and Revenue Management.

CohnReznick has joined the NetSuite reseller program. It was the major channel announcement from this world's SuiteWorld program. There was an avalanche of NetSuite releases from the show in San Jose, Calif., and the announcement of three new channel members—the others are ManageForce and Metafile Information Systems—was left to the short third day of the show.

Xero seems to be ruling out an initial public offering in the United States for the foreseeable future. Already publicly traded in Australia and its home company of New Zealand, Xero outlined its current capital needs in its annual report for the year ended March 31. "Based on current projections and growth plans, we have sufficient capital on hand to drive the business towards cash flow break-even," the company said in the annual report.

Prodware, a Dynamics and Sage reseller based in France reported revenue of about $47.9 million for the first quarter ended March 31, an increase of .7 percent over last year's corresponding period. The company said that revenue was up 2.6 percent on a comparable basis; excluding divested operations. The company did not report earnings—that will follow later and I assume this is a French practice as Prodware's usual practice is to release revenue followed later by net income.