Accounting Professor
Region: US
Wednesday 08 May 2024 15:09:01 GMT
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ye :
also what if a service is partially delivered, but the critical components of a contract haven’t been fulfilled yet, why should any revenue be recognized?
2024-05-13 05:43:10
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Real_ryanjr :
I think the hardest part about accounting courses is that most of us just aren’t life savvy to be able to connect the dots and make sense of this in the real world. Makes more sense as you get older
2024-05-18 00:11:22
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JLR05302022 :
1. Identify contract 2. Identify performance obligations 3. Determine transaction price 4. Allocate tras price to performance obligations 5. Recognize rev when obligations satisfied.
2024-05-15 16:50:43
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pamonster2000 :
Facts my brother💯
2024-05-16 00:01:30
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Sharaaan :
Appreciate the simple explanation. A lot of people try to make something this simple, a lot more complicated than it is.
2024-05-12 01:12:19
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user431002397616 :
The jump from intro accounting to intermediate is insane. It’s like ya I understand these concepts to oh wait heres 10k ways this gets super complicated
2024-05-19 05:21:03
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M :
How did you get into becoming a professor? I eventually want to do that route in 5-10 years. I have my masters, CPA, currently work in big tech and have PA exp.
2024-05-14 15:05:12
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Natayah Wade :
Would you count a notes receivable as income/revenue? And a notes payable as a liability to the company ? Or am I wrong js asking (just finshed advance accounting in HS)
2024-05-15 09:26:11
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Danish :
GAAP requires the accrual basis of accounting however small businesses can get by using the cash basis in which services/goods are only recognized when money is transferred.
2024-05-13 08:24:42
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ye :
define “provide”
2024-05-13 05:34:33
0
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