Revenue Recognition - Assignment Point
Revenue Recognition
Subject: Accounting | Topics:

Revenue Recognition is an accounting principle beneath generally accepted accepted technology principles (GAAP) that determines the specific conditions under which income becomes understood as revenue. Commonly, revenue is recognized as long as a specific crucial event has occurred and the amount of revenue is measurable. The revenue recognition principle is usually a cornerstone of accrual accounting as well as matching principle. They both determine accounting period, where revenues and charges are recognized.

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