deferred revenue being revenue received, in the bank, perhaps even spent that was not recorded as revenue yet, there are various rules about when one books cash. If, e.g, you pay me in advance $1000 to take care of your cat this summer, I can't book it all when received as I have not performed the service. I have the money, which shows up in cash flow, but I record a liability (the work I have to perform taking care of your cat) and book the revenue ratably over the time I meet my obligation. At some point I can demonstrate that my cat sitting deals don't fall apart, my customers don't ask for their money back (warranties), and I can accelerate recognition of the billing as revenue when received. Wave has an adequate database of SMB deals to that effect and books revenue from the SMBs (under 3000 seats) promptly. It does not as yet have such a dataset for large deals (will BASF sue them etc or somehow cancel or back out?) so such revenue is booked ratably over the period with which Wave has express liability (warranty, license duration etc).
So, no. Defrev is money in the bank being used and represents a liability until it is booked in which case it moves off the liability column and into the revs column. Change in liabilites smooshes into cashflow to reconcile differences between reported revs and billings.
At least that's my understanding.
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