revenue recognition principle

Tag: revenue recognition principle

Accrual Based Accounting GAAP Rules

See Also: Accrual Based Accounting Accrual Based Accounting GAAP Rules Revenue Recognition Principle — GAAP The revenue recognition principle states that revenue is recognized when earned. In other words, collect the money for services rendered. Revenue is considered earned when the company has fulfilled its obligation to the customer. For example, if a customer orders

Read More