memorandum of association
Question Type   : Accounting | Financial Account
Posted date       : 16 Feb 2015
Due date           : 17 Feb 2015

Q:

 write a two-page memo addressing the pertinent revenue recognition rules. Include information about when you should recognize revenue on the manufacturing of products. Also, discuss the importance of the invoicing process and how to minimize the risk of fraud in the sales cycle.



memorandum of association
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Answered On       : 16 Feb 2015
A:

Rules and Process of recording revenue, under one of the various methods, in the accounting period. In the period of revenue recognition, related expenses should be matched to revenue. The most often used method of recognizing revenue is at the time of sale or rendering of service. The cash basis of revenue recognition is also popular among service businesses. Other methods of revenue recognition include during production and at the completion of production. See also completed contract method; installment (sales) method; percentage - of - completion method ; realization.

 

Attachments:
Memoran.docx (19.83 KB)

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