HOW TO RECORD DEFERRED REVENUE ACCOUNTING? (Business Opportunities - Other Business Ads)
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HOW TO RECORD DEFERRED REVENUE ACCOUNTING? | |
The practice of deferred revenue journal entry is also referred to as unearned revenue or deferred income, wherein revenue is recognized only after delivering goods or services to the customer. The proper matching of revenue with the corresponding expenses ensures that the company's true financial position is reflected. In the case of receiving advance payments or deposits for products or services it has not yet provided, a company cannot recognize the payment as revenue immediately. Instead, it must record the payment as a liability on its balance sheet until the products or services are delivered. The recording on the balance sheet is done as a liability until the obligations are fulfilled. Recognizing revenue is possible once the obligations are fulfilled. | |
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| Target State: Texas Target City : Houston Last Update : Aug 06, 2023 4:49 AM Number of Views: 98 | Item Owner : David Adam Contact Email: Contact Phone: 8005805375 |
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2024-05-12 (0.390 sec)