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Revenue Recognition (Policy (Revenue Accrual (An accrual of revenue earned…
Revenue Recognition
Policy
Revenue Accrual
An accrual of revenue earned which ensures revenue is complete and earned and is recorded when sales and services rendered during a month have not been invoiced at month end.
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When To Recognize
Realized Or Realizable
Revenues are realized when products and services are exchanged for cash or receivables. Revenues are realizable when the receivable is readily convertible to cash.
Earned
Revenue is usually earned when the product has been delivered, service has been rendered, risk of loss, and title has been passed and, in the case of rentals, passage of time or other contractual obligations have been met.
Principio de Causacion
La aplicación del principio de causación significa que los hechos económicos deben reconocerse y contabilizarse en el Periodo contable en que estos ocurran, es decir, en el periodo en que se venda el bien, se preste el servicio o en que se configure jurídicamente la obligación o el derecho.
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