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Aprajita Kumar's Blog – March 2010 Archive (2)

Revenue Recognition (contd.)

In my last post I addressed the conceptual framework on revenue recognition. Only when the revenue is both earned and recognizable (i.e. when the earning process is finished or nearly finished and delivery/exchange has taken place), it gets recognized in the financial statements.....few alternative revenue recognition methods are being discussed underneath concisely…

Added by Aprajita Kumar on March 10, 2010 at 2:39pm — No Comments

Revenue Recognition

Revenue is one of the most important indicators of a successful business. Since revenue reporting directly impacts an entity's results of operations and financial position, it is essential to have a thorough knowledge of the underlying concepts and practices. However, revenue accounting literature has emanated in various diverse pronouncements that at times it is often challenging to relate and identify the appropriate pronouncement.....… Continue

Added by Aprajita Kumar on March 1, 2010 at 1:52pm — No Comments

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