Distinguish between the stand-alone and the incremental revenue-allocation methods.

Q: Explain the Service Projects versus Revenue Projects?

A: The project is the collaborative effort initiated to achieve a certain objective within a certain…

Q: Which of the following is an input method for recognizing revenue over time?

A: Cost to Cost Method While recognizing the revenue in the contract work there are different method…

Q: what are the meaning of Revenue Enhancement and Cost Saving ? and I need examples for each.

A: Revenue enhancement is the enhancement or increase in the revenue, which also leads to an increase…

Q: Describe the revenue recognition principle.

A: Definition:   Accrued revenue: Accrued revenue refers to the revenues that are generated from the…

Q: What is the authoritative literature addressing revenue recognition when right of return exists?

A: Financial accounting standards board (FASB): This is the organization which creates, develops, and…

Q: Understand the concept of relevant revenues and costs. What makes a revenue or cost relevant?…

A: solution concept relevant revenue                 relevant revenue means the revenue which has the…

Q: Choice Are revenue expenditures.

A: Extraordinary repairs are repairs that are of high cost and increase the useful life of the asset…

Q: Explain when it is appropriate to recognize revenue at a single point in time.

A: Revenue refers to the amount of the earning which an organization earns for performing the services.…

Q: Explain the current environment regarding revenue recognition.

A:

Q: Explain the revenue recognition principle.

A: Accounting principle:

Q: Describe the revenue and collection cycle,including typical source documents.

A: Introduction: Income statement: Income statement is the financial statement of the company that is…

Q: Define the term unearned revenue.

A: Deferred revenues: Deferred revenue is a liability to render service or to deliver products in…

Q: Revenue Realization and Matching principles

A: Option 1 is wrong because the statement is true. Revenue should be recognized when the process of…

Q: what are the concepts of revenue recognition?

A: Definition:   Revenue recognition principle: Revenue recognition principle states that every…

Q: Define Sales revenue.

A:

Q: Define the term revenue expenditure.

A: Fixed Assets:   It refers to the long-term assets having a useful life of more than a year which…

Q: What is the revenue project?

A: Revenue refers to the income generated by the company by performing certain operations or business…

Q: How is a revenue-recognition abuse related to the percentage of completion method?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: A term that refers to a situation where the revenue function is equal to the cost function.

A: Revenue function and cost function are two important terms used in cost volume profit analysis. The…

Q: differences between the FASB and GASB

A: Accounting is a practice that helps the business to keep its transactions in legal-mentioned form.…

Q: What is the criteria to recognize revenue?

A: Introduction: Taxes, customs charges, earnings from state-owned firms, capital revenues, and foreign…

Q: revenue and the expenditure cycle can be viewed as having two key parts

A: Revenue cycle involves sale of goods and expenditure cycle involves purchase of goods.

Q: Explain what is meant by the phrase matched with revenues

A: The term matched with revenues means to recognize expenses in the same period as the related…

Q: Describe the steps of Special Issues in Revenue Recognition.

A: Revenue recognition refers to principle of accounting which specifies revenue conditions.

Q: Explain of two key levers- revenue and expenditure.

A: For any business to sustain and grow, there are five main levers that drives it. These levers…

Q: Discuss the importance of accounting for multiple performance obligations in a revenue arrangement…

A: Here discuss about the importance of the performance obligation which are identified in the contract…

Q: Distinguish between Service Projects and Revenue Projects?

A: Service Projects: Service projects are those projects which are carried out for the welfare of…

Q: When should DJD recognize revenue

A: The revenues in these type of contracts are based on two types of contracts. 1. Revenues under…

Q: Why does Recognizee revenue when (or as) each performance obligation is satisfied,” is important?

A: Performance obligations are promises to transfer goods or services to a customer. In a transaction…

Q: Explain Deferred Revenue? How it is different from Deferred Expenditures? Give an example?

A: Explain the meaning of deferred revenue and provide example:Deferred revenues:Collection of cash in…

Q: Define Core Revenue Recognition Principle.

A: The core principle of revenue recognition standard is that an entity should recognize revenue to…

Q: What function does the receiving department serve in the revenue cycle?

A:

Q: What is Physical Systems of Revenue Cycle?

A: Revenue cycle           Revenue cycle are divided into two              a. physical phase…

Q: Costs that are directly associated with the earning of revenue are recognized as expense in the same…

A: The accounting is based on various principles and regulations.

Q: Explain the Criteria for Recognizing Revenue over Time.

A:

Q: Explain a principal-agent relationship and its significanceto revenue recognition.

A:

Q: What are Revenue Recognition and Matching Principles?

A: Revenue recognition is a Generally Accepted Accounting Principle. It says that organization should…

Q: Name the major subsystems of the revenue cycle.

A: Revenue cycle refers to tracking a revenue transaction from its beginning to end i.e. from receiving…

Q: What are the drivers to the cost of revenue

A: The total cost of producing and delivering a product or service to customers is known as the cost of…

Q: Define Revenue

A: The revenue is reported on the income statement of the company, and it is used to derive the net…

Q: What are the revenue cycles ( in proper order)

A: Introduction:- Revenue cycles normally starts from receiving order from consumers or entering in…

Q: When must multiple performance obligations in a revenuearrangement be accounted for separately?

A: Performance Obligation:  Performance obligation means a promise to transfer goods or services. A…

Q: Define revenues

A:

Q: Which one of the following is a revenue expenditure?

A: Revenue expenditure: It refers to the amount spent on normal maintenance and repairs of fixed assets…

Q: ASPE and IFRS.

A: Introduction: Revenue recognition: Revenue recognition is an accounting theory that defines the…

Q: Determine total contra revenues for

A: 6. total contra revenue = sales allowance + sales discounts + sales return = 3500+18000+9000 = 30500