Sign In
Not register? Register Now!
You are here: HomeTerm PaperAccounting, Finance, SPSS
2 pages/≈550 words
3 Sources
Accounting, Finance, SPSS
Term Paper
English (U.S.)
MS Word
Total cost:
$ 11.23

Revenue Recognition: Types, Disclosures, Modification, and Practical Case (Term Paper Sample)


THE project required the writer to:
1. provide a MEANINGFUL background of the revenue recognition
2. DESCRIBE the types, revenue RECOGNITION and disclosure and reporting issues
3. track the modification regarding the revenue recognition based on the accounting standards
4. provide a practical case for the revenue recognition from actual life
5. prepare appropriate conclusion and formal report


Term Project: Revenue Recognition (IAS 18, IFRS 15)
Question 1: Background of the Revenue Recognition
Revenue recognition establishes a procedure an entity should follow when recognizing or reporting revenue in the books of accounts. Revenue is recognized when the performance obligation is met, and the transfer of goods to the customer (s) has taken place (Alotibi, 2018). Revenue should be recognized or reported in the books of accounts at the fair value of the amount receivable or received when the set conditions are met. Therefore, an entity should recognize revenue and other cash flows from customers using an accrual basis to depict the transfer of goods or services to the customers (Alotibi, 2018). It means revenue should be recognized when realized and earned and not mandatory when money is received.
Question 2: Types, Recognition, and Disclosures
Types of Revenue
Revenue is an inflow of economic benefit (s) to an entity arising from its business activities. According to Alotibi (2018), types of revenue include receipts from the sale of goods or services, cash equivalents, interests, royalties, dividends, or receivables arising from business activities.
Revenue Recognition
Generally, revenue should be recognized in the books of accounts when it is likely that future economic 

Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:

Other Topics:

  • Taxation Act of 1967: Advising Ms. Rose Chia on Taxes
    Description: Section five of the Income Tax of 1967 provides for regulation on filling of tax returns. Sub-section 77 states that any person in Malaysia are required to submit yearly tax returns for the period ending on December. This law though does not apply for companies. This provision is for people who have...
    4 pages/≈1100 words| 1 Source | APA | Accounting, Finance, SPSS | Term Paper |
  • Financial Costing and Feasibility of Health Programs
    Description: The project’s financial costing forms the basis of the program feasibility, where the focus is on fundamental economic issues that influences the success of the health program. Evaluation is based on the financial flow that indicates financial stability. Financial analysts report that several factors point...
    1 page/≈550 words| 4 Sources | APA | Accounting, Finance, SPSS | Term Paper |
  • Regulations on Financial Institutions
    Description: Regulations are important to protect the investors/savers from any malpractices and fraud that may take place within the institutions. To make sure they work in the interest of the society and the economic development of the country and the nation. To ensure stability, safety from the market disparities. To...
    14 pages/≈3850 words| 12 Sources | APA | Accounting, Finance, SPSS | Term Paper |
Need a Custom Essay Written?
First time 15% Discount!