Virtual Stopwatch Pro is a multi-function clock program. It runs as a Stopwatch, Timer, or Clock. The time is displayed using a completely customizable display. Virtual Stopwatch Pro contains a full-featured time logging system. You can create different accounts to log time to and generate reports for any or all accounts. Virtual Stopwatch Pro also supports configurable alarms. Create alarms to beep, play a WAV file, run a program, or just display a message. If you want to time an event in terms other than seconds, use Taxi Mode to configure the time base. This is useful if you wish to keep track of phone charges, time billing, etc.
Here are some of the features supported by Virtual Stopwatch Pro:

Runs as a Stopwatch, Timer, or Clock
Time events to 1/1000th of a second
Count down to a specific date and time
Display time in an analog or digital format
Completely customizable display
Comprehensive time logging capabilites with accounts and reporting
Create user-defined alarms and reminders
Event log for capturing timing activity
These Pro version features are not included in the standard version:

No limit to the size of font used when displaying the time in font mode
When displaying the time in digital mode, you can create much larger digits
Command line parameters
Speaks the time on the hour, half hour, or on request
Hardware control via the joystick port to activate Virtual Stopwatch Pro functions
Allows multiple simultaneous log-ins where time logging for multiple people is required

The license of this software is Free Trial Software, the price is $25.00, you can free download and get a free trial.