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 ...

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 ...

Lara Long, CPA, never would have imagined five years ago that she soon would be in a room with some of her company’s biggest competitors and broader industry peers, talking candidly and transparently ...

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 ...

The Securities and Exchange Commission has released a staff accounting bulletin to conform its existing staff guidance to the new revenue recognition standard that takes effect for public companies at ...

Knowing GAAP accounting principles will help you understand why your accountant does the things they do. Many, or all, of the products featured on this page are from our advertising partners who ...

Almost all of the public companies that adopted new accounting standards for reporting revenue beginning in 2018 used a shortcut that allows apples-to-oranges comparisons for revenue and profit growth ...

Insurance agencies must comply with specific regulations when accounting for the company's revenue streams. Unlike in some industries, insurance agencies can only book their revenues when they receive ...

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Investors need accurate financial information to make informed investment decisions. As Enron and its progeny demonstrate, however, even in our sophisticated system of laws, regulations and complex ...