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Acronyms that contain the term revenue recognition
What does revenue recognition mean? This page is about the various possible meanings of the acronym, abbreviation, shorthand or slang term: revenue recognition.
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What does revenue recognition mean?
- Revenue recognition
- The revenue recognition principle is a cornerstone of accrual accounting together with the matching principle. They both determine the accounting period in which revenues and expenses are recognized. According to the principle, revenues are recognized when they are realized or realizable, and are earned (usually when goods are transferred or services rendered), no matter when cash is received. In cash accounting – in contrast – revenues are recognized when cash is received no matter when goods or services are sold.
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"revenue recognition." Abbreviations.com. STANDS4 LLC, 2024. Web. 4 Jun 2024. <https://www.abbreviations.com/revenue%20recognition>.
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