Business > CASE STUDY > c245 tASK 1.docx C245 Revenue Recognition Importance Accounting Research C245 Task 1 (All)
c245 tASK 1.docx C245 Revenue Recognition Importance Accounting Research C245 Task 1
Document Content and Description Below
c245 tASK 1.docx C245 Revenue Recognition Importance Accounting Research C245 Task 1 Western Governors University Revenues are the inflows or other enhancements of assets of an entity or settle... ment of its liabilities during a period from delivering or producing goods, rendering services, or other activities that constitute the entity s ongoing major or central operations (Kieso, 2013, p 53). Revenues have many names, such as sales, fees, rent, interest, royalties, and service revenues. Revenues are important assessments of how successful a company is operating. The financial industry uses revenues to gauge a company s success and how a company is meeting its targets. Under generally accepted accounting principles (GAAP) the recognition of revenues occurs when revenues are realized or realizable and when it is earned. The Untied States Securities and Exchange Commission (SEC) staff believe that rev. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [Show More]
Last updated: 2 years ago
Preview 1 out of 6 pages
Buy this document to get the full access instantly
Instant Download Access after purchase
Buy NowInstant download
We Accept:
Reviews( 0 )
$10.00
Can't find what you want? Try our AI powered Search
Document information
Connected school, study & course
About the document
Uploaded On
May 26, 2021
Number of pages
6
Written in
Additional information
This document has been written for:
Uploaded
May 26, 2021
Downloads
0
Views
117
