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Accounting is an interesting subject. However, this subject requires a lot of concentration. Moreover, a lot of topics are there to get perfect knowledge before you start its assignment. We from universityhomeworkhelp.com understand your problem. Revenue recognition is one of them and so, if you have any problem related to this topic, then you can easily go with Revenue Recognition Homework Help services.
What is the importance of Revenue Recognition?
The principal of Revenue Recognition explains about accounting period in which expenses and revenues are recognized. There are two different types of accounting in revenues —
- Accrued Revenue — Recognition is done before receiving of cash.
- Deferred Revenue — Recognition is done after receiving of cash.
So, you just need to understand that what kind of revenue is there. However, if you feel any confusion in writing the answers properly, then you can easily take our assistance through Revenue Recognition Homework Help.
What are the different methods of revenue recognition after sale?
There are three different methods that explain about the revenue recognition-
- Installment sale method
- Cost Recovery Method
- Deposit Method
What are the different transactions?
- Selling inventory Revenue
- Rendering services
- Permission to utilize asset of a company
- Selling of asset
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What are the methods used for revenue recognition before sale?
These are as follow-
- Percentage of Completion method
- Completed Contract method
- Completion of Production basis
Long term contracts are the former two methods which need to go through the different factors in a proper way. Moreover, the last one is the condition that explains about recognition when no sale is done. Agricultural Products come under this category.
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What are the different terms that you must know before starting assignments?
Some terms are as follow-
- Accounting Principal
- GAAP or Generally Accepted Accounting Principals
- Times revenue methods
- Top Line
- Deferred Revenue
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