Thursday June 12 2014
HEre is one of many links on the new revenue recognition standards
Professor Elam
Accounting & Investing Info for San Antonio A & M
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Posted in Financial Acct
2 responses to “Revenue Recognition”
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This is going to be an interesting twist. Do I understand it correctly, revenue recognition will be when a contract is signed not necessarily when the work is performed? As long as the contract has a guarantee clause of work to be performed? What happens when the contractor does not fulfill the contract?
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CPAs used to run the profession. This sounds like the lawyers are taking over. Good question Tish, we shall see.
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Professor Elam 
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