New Revenue Recognition Rule | Intermediate Accounting | CPA Exam FAR | Chapter 18

Revenue Recognition

My video lectures about revenue recognition principle, percentage of completion method, and completed contract method can be found intermediate accounting course and CPA exam lessons. Browse from menu above.

Intermediate accounting course

Intermediate accounting Course

 

The new revenue recognition standard eliminates the transaction- and industry-specific revenue recognition guidance under current GAAP and replaces it with a principle- based approach for determining revenue recognition.