What Is the Difference Between the Revenue Recognition Principle and the Expense Matching Principle? Understand the uses of these two core principles. The revenue recognition principle is a ...

The accounting and finance industries have been abuzz with the recent changes to the Revenue Recognition standard. This new standard has been in the works for almost 15 years and represents one of the ...

When you glance at a company’s income statement, you see its revenues and expenses neatly listed, culminating in that all-important net profit figure. But have you ever stopped to wonder when those ...

There are many industries where companies provide goods or services but aren’t immediately paid for them. From an accrual basis accounting standpoint, these represent accrued revenue for the company.

The revenue recognition standard that takes effect in December for public companies could pose challenges for technology businesses, particularly those relying on traditional subscription licenses, ...

Now that public companies have begun complying with the new revenue recognition standard and private companies will need to implement it in the next few months, the underlying challenges are becoming ...

In 2016, the Financial Accounting Standards Board (FASB) released a new standard, ASC 606 - Revenue from Contracts with Customers. The new standard is effective for Dec. 31, 2019, financial statements ...

Businesses want to maximize their revenue in the hope that more revenue will equal greater profits. However, just because a business receives payment does not mean that it can record the proceeds as ...