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 practice aligns directly with the revenue recognition principle—a fundamental part of GAAP. According to GAAP, revenue can only be recorded after it has been earned by fulfilling customer ...

News and in-depth features about tax, accounting, auditing, and other business topics. Published by the American Institute of CPAs ...

A report this past week claims PB Fintech’s management has not been completely transparent in its disclosures. So what's ...

Robotics warehouse automation company Symbotic Inc ($SYM) lost over a quarter of its market capitalization in Wednesday’s pre-market session after the company said ...

The AICPA resource features new guidance and terminology for financial statement preparers and auditors. The December webcast also included updates on the AICPA Accounting Standards Review Committee’s ...

However, the transition from on-premise licenses to a cloud-based model presented short-term challenges in revenue recognition, with some inconsistencies in customer transition timing. Despite ...