Revenue Recognition.  Intermediate Accounting
Channel: Farhat Lectures. The # 1 CPA & Accounting Courses
Date: 2020-11-06

In this session, I explain revenue recognition. Revenue recognition is a generally accepted accounting principle (GAAP) that identifies the specific conditions in which revenue is recognized and determines how to account for it. Typically, revenue is recognized when a critical event has occurred, and the dollar amount is easily measurable to the company.

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