Under an accrual accounting system, the recognition of revenue is independent from when the cash is received. If cash or check is received at the time of providing the goods/services, then the revenue ...

This is “netting revenue against expense” and is a violation of GAAP. The Revenue Definition and Recognition section of OUC's Accounting Handbook provides guidance on revenue accounting for CU. The ...

The Financial Accounting Standards Board released a paper on how to apply its revenue recognition standard to construction ...