In recent years, the FASB created a new Revenue Recognition method. Your research assignment is to go to the FASB Codification (found in the Library Online Databases under RIA), find the part of the Codification that deals with Revenue Recognition, and create a memo to your CFO describing how to account for the following. Be SURE to include proper references to the FASB Codification. You can find how to cite this and show it as a reference in proper APA format by checking online.

Your client has purchased a new computer system for $3,000,000 from your firm. This purchase includes the hardware, software, a maintenance agreement, and training for employees. Your firm sells some of these items separately. NPormally the software sells for $500,000, the maintenance agreement sells for $300,000, and training sells for $200,000. The computer should last for five years. The maintenance agreement lasts for four years, and the training will be done in the first year.

Research the FASB Accounting Codification and find the proper section dealing with revenue recognition. Write a memo to the client file and copy it to the CFO to discuss the proper way to account for this sale and how the revenue should be recognized. Use the following sections:

- Research Problem (question to be answered)

- Recommended Method of Accounting for the issue

- Authoritative source that supports your recommended method

- Reference list