Learn the two GAAP criteria for revenue recognition and how companies can accurately report on their financial statements ...

A business that uses the accrual basis of accounting recognizes revenue and expenses in the accounting period in which they are earned or incurred, regardless of when payment occurs. This differs from ...

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.

AMID CONCERNS ABOUT IMPROPRIETIES, the SEC issued SAB 101, which provides guidance on recognizing, presenting and disclosing revenue in financial statements. The official implementation date is no ...

Identifying and assessing the risks of material misstatement due to fraud are among the most challenging aspects of auditing in recent years, according to outreach conducted by the AICPA Auditing ...