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Recognition criteria (revenue recognizee (interest (effective interest…
Recognition criteria
revenue recognizee
interest
effective interest method
royalties
one of 2 event occur
subsequent sale or usage
performance obligation
sales based
usage-based royalty
allocate to satisfy
dividend
shareholders
right to receive
payment established
US GAAP
FASB
recognized
realized
realizable and earned
SEC
provides guidance
because
fraud
misstatements
4 criteria
evidence of an arrangement
between
buyer
seller
product delivered
service rendered
price determined
determinable
seller is reasonable sure
collecting money
revenu
use by others asset
yield
interest
royalties
dividends
recognize
economic benefits
associated
transaction
flow to entity
amount revenu
measured reliably
gross vs net reporting
gross revenus criteria
entity
primary obligor under the contract
bears
inventory
risk
credit risk
choose
its suppliers
reasonable latitude
establish price