Describes the key concepts in the field of financial accounting: Select the appropriate point of revenue recognition. Accrual process requires recognition of income and expenses for the reporting of the process of creating value. Description of two key criteria for revenue recognition - realized and earned - and the conditions that must be met to satisfy the criteria. Using a typical point recognition, when the product or service delivered to the customer, is discussed, as well as the situation (for example, the percentage of the competition method), when revenue can be recognized until actual delivery. Rewritten version of the earlier notes. "Hide
by Robert S. Kaplan 5 pages. Publication Date: November 10, 1999. Prod. #: 100050-PDF-ENG
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