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《GAAP_Revenue Recognition Principle 一般公認(rèn)會(huì)計(jì)原則.pdf》由會(huì)員上傳分享，免費(fèi)在線閱讀，更多相關(guān)內(nèi)容在行業(yè)資料-天天文庫(kù)。
1、GAAP–RevenueRecognitionPrincipleThisdiscussionfocusesontheobjectives,descriptionandapplicationofthisprinciple.Exampleswillbegiventostrengthentheunderstandingandcapabilitytoapplythisprincipleatrealsituation.Objective:Tosetforththecriteriaforrecognizingandrecordingrevenueinthe
2、accountingperiod.Description:Accordingtotherevenuerecognitionprinciple,revenuemustbereportedwhenitisrealizedandearned,notnecessarilywhentheactualcashisreceived.Inaddition,thefollowingfourcriteriaorconditionsmustalsobemetforrevenuetoberecognized:1.Deliveryhasoccurredorservice
3、shavebeenrendered2.Persuasiveevidenceofanarrangementforcustomerpaymentexists3.Priceisfixedordeterminable4.CollectionisreasonablyassuredApplication:Revenueisanitemthatinvestorsandanalystsalwayspayattentionto.Inordertoavoidmisrepresentation(overstatementandunderstatement)ofrev
4、enue,GAAPhasprovidedadditionalguidanceforrevenuereportingfordifferentsituations.Forthetraditionalretailbusiness,goodsaredeliveredtothecustomersatthesametimecashisreceived,andrevenuewillberecognizedatthetimeofsales.Howeverinothercasethatcashcouldbecollectedbeforeoraftergoodso
5、rservicesaredelivered,thetimingofcashreceiptsfromcustomersdoesnotdictatewhenbusinessesreportrevenues.Instead,revenuewillusuallyberecognizedwhenthetitle,risks,andrewardsofownershiphavetransferredtothecustomers.Dependingonthesituations,revenuemayberecognizedatdifferentpointoft
6、ime.Example#1(cashreceivedatthesameperiodgoods/servicesdelivered):ThenewspaperstandsellsMacaoDailyNewstoacustomerwhopays$4cashandtakesawaythenewspaperimmediately.Entries:Dr.Cash……………$4Cr.Revenue…………..$4Sincecashisreceivedatthesametimethenewspaperisdeliveredandallthefourcrite
7、riaaremet,revenuewillberecognizedrightaway:Example#2(cashreceivedbeforegoods/servicesdelivered):OnJan1,theFortuneMagazinehasreceivedasubscriptionformand$120fromanIFTstudentforsubscribing12issuesofFortuneMagazine($10/issue).Thestudentwillreceive1issueofthemagazineonthelastday
8、ofeachmonthfor12consecutivemonths.Entries:Jan1(cashreceived):Dr.Cash………………$
