GAAP_Revenue Recognition Principle 一般公认会计原则.pdf

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1、GAAP–RevenueRecognitionPrincipleThisdiscussionfocusesontheobjectives,descriptionandapplicationofthisprinciple.Exampleswillbegiventostrengthentheunderstandingandcapabilitytoapplythisprincipleatrealsituation.Objective:Tosetforththecriteriaforrecognizingandrecordingrevenueinthe

2、accountingperiod.Description:Accordingtotherevenuerecognitionprinciple,revenuemustbereportedwhenitisrealizedandearned,notnecessarilywhentheactualcashisreceived.Inaddition,thefollowingfourcriteriaorconditionsmustalsobemetforrevenuetoberecognized:1.Deliveryhasoccurredorservice

3、shavebeenrendered2.Persuasiveevidenceofanarrangementforcustomerpaymentexists3.Priceisfixedordeterminable4.CollectionisreasonablyassuredApplication:Revenueisanitemthatinvestorsandanalystsalwayspayattentionto.Inordertoavoidmisrepresentation(overstatementandunderstatement)ofrev

4、enue,GAAPhasprovidedadditionalguidanceforrevenuereportingfordifferentsituations.Forthetraditionalretailbusiness,goodsaredeliveredtothecustomersatthesametimecashisreceived,andrevenuewillberecognizedatthetimeofsales.Howeverinothercasethatcashcouldbecollectedbeforeoraftergoodso

5、rservicesaredelivered,thetimingofcashreceiptsfromcustomersdoesnotdictatewhenbusinessesreportrevenues.Instead,revenuewillusuallyberecognizedwhenthetitle,risks,andrewardsofownershiphavetransferredtothecustomers.Dependingonthesituations,revenuemayberecognizedatdifferentpointoft

6、ime.Example#1(cashreceivedatthesameperiodgoods/servicesdelivered):ThenewspaperstandsellsMacaoDailyNewstoacustomerwhopays$4cashandtakesawaythenewspaperimmediately.Entries:Dr.Cash……………$4Cr.Revenue…………..$4Sincecashisreceivedatthesametimethenewspaperisdeliveredandallthefourcrite

7、riaaremet,revenuewillberecognizedrightaway:Example#2(cashreceivedbeforegoods/servicesdelivered):OnJan1,theFortuneMagazinehasreceivedasubscriptionformand$120fromanIFTstudentforsubscribing12issuesofFortuneMagazine($10/issue).Thestudentwillreceive1issueofthemagazineonthelastday

8、ofeachmonthfor12consecutivemonths.Entries:Jan1(cashreceived):Dr.Cash………………$