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 ...

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 ...

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

Changes to principal vs. agent guidance are on track for final approval as FASB and the International Accounting Standards Board (IASB) amend the converged revenue recognition standard that they ...

Accrual method accounting separates revenue recognition from cash flow. That means a company records revenue in its books based on whether it has earned money, not whether it has actually received ...

The Financial Accounting Standards Board and the International Accounting Standards Board have jointly published a draft standard to improve and align the financial reporting of revenue from contracts ...

Editor’s note: On April 14, FASB and the IASB said the priority projects on revenue recognition, leases and financial instruments, scheduled to be completed in June, would require a few more months of ...

A new revenue recognition standard could soon create accounting murkiness for contractors and engineers, potentially changing the way some firms do business. The International Accounting Standards ...

It’s critical to begin evaluating how the new revenue recognition rules will affect your technology company from an accounting as well as an operational perspective. Financial Accounting Standards ...

NEW YORK, June 24 (Reuters) - U.S. and international accounting rule makers proposed changes to revenue recognition standards that could clear up inconsistencies in the way that companies record sales ...