US accounting for revenue recognition can be challenging and pulls from over 200 pieces of literature.  With recent changes to revenue guidance on accounting for multiple elements (January 1, 2011 required effective date for most calendar- year issuers), Companies face additional hurdles to absorb and adopt these rules on time.  This presentation will cover some of the basic principles of revenue recognition and multiple-element accounting as well as provide a brief summary of the status of IFRS/GAAP convergence (expected to be finalized in June 2011) and its potential impact going forward.