Methods to Learn Revenue Recognition and Measurement Homework Answers

thumbs up

Ease your homework burden with top-notch Online Homework Help. Say goodbye to deadlines stress and let our expert tutors handle your assignments effortlessly.

Focus on what truly matters while we handle the rest.

Rate this post

Laws!! Laws!! And Laws!! These are everywhere.

Did you ever park your vehicle on the wrong side, unintentionally, of parking area and police charged for the same?  I had experienced it the other day. Will certainly ensure that the same is not repeated for the next time. But this is ethical too; we all must be aware of the laws whether they are of parking, driving or accounting (for account students and the employees who are involved in this concept.)

The accounting principles and laws are to be referred from GAAP – Generally accepted accounting Principles. And revenue recognition is one of the concepts of GAAP. How about checking out manuals as revenue recognition and measurement homework answers?

What is Revenue Recognition?

Now here, proper attention is required to ensure complete revenue recognition and measurement homework answers. Revenue means the Income earned after selling of any goods and services. It is calculated on a monthly basis, yearly basis or as the company’s financial team requires it.

Kindly do not assume that the Revenue and Profit are same. Profit comes when expenses are deducted from the Revenue.  Many of deals get close because of huge revenue numbers. For the beginners, revenue must be known at the complete revenue count for the particular accounting period. Secondly, there must be assurance of the revenue earnings.

As per the principle, revenues can be recognized either they are realized or realizable or when the income is earned on account of rendering services or selling goods. There are circumstances when the cash is either received before the delivery of services as well as goods rendered or after the services rendered or delivery of concerned goods.

Hence revenues are recognized accordingly in two types of accounts:

  • Deferred Revenue: When revenue is recognized after the cash is received.
  • Accrued Revenue: When revenue is recognized before the cash is received.

As we mentioned before, that revenue must be realized. This means that cash is received for products or services sold. Realizable means that products are exchanged, but it is yet to be payable, expected to receive in future dates of the months.  In simple words, revenue recognition is the calculation of the revenue and the income we earn after rendering services or selling of goods, subject to the payment received or not.

Topic doesn’t end here. For further revenue recognition and measurement homework answers, we need to understand few methods or process.

Some other points to note:

Hey! Before moving to the methods let us know first that from what kind of specific transaction the revenue can be recognized.

  • Sale of Goods.
  • Rendering any kind of
  • Receiving Interest against the entitled Assets, Royalties or Dividends.
  • Revenue from selling of an Asset.

Not to skip, there are few exceptions where the revenue is not recognized. When the company faces, buy back agreements and returns. As per the trusted sources, revenue guidance was issued by the IASB as IFRS 15. As per permission, this will come into effect only within reporting periods of annual standards starting on or after the January 1, 2018, deadline.

Finally moving to:

Methods of Revenue Recognition:

The method of Sale:

This is one of the accurate methods of revenue recognition. Under this method, revenue is recognized at the time of sale services as well as goods rendered are transferred to the buyer. The transaction can be done via cash or credit.

Method of Percentage:

Most of the constructions and engineering companies opt for this type of method. Because these companies take a long time to deliver the product or project to their respective customers. Companies which opt for this method take the benefit of showing to their Investors or share holders that the company is generating revenue, although the particular project is yet to be accomplished.

On the basis of 2 conditions, the companies use this percentage method. One is if it is a long term contract and secondly estimation is done on revenues and its cost.

Contract completion:

The revenues and expenses under this method are recorded at the end of the completion of contract. Because the contract may not be accounted for its completion.

Recovery of Cost:

Under this method, profit or revenue is recognized, once all the expenses are been reimbursed.

Installment Method:

This method is especially used in real estate business, credit or financial institutions where the deals are occurred on huge amount basis, down payment is transacted and rest of the amount is paid by the customer in equal installments along with interest.

According to IAS – International Accounting Standard, revenue can also be recognized by following steps:

  1. Number of transactions entered at the time of recognition and identifying the same.
  2. Identification of the particulars which are supposed to be transacted separately, especially for the cases of returns.
  3. Allocation of the components.
  4. Selection of the Revenue Recognition Criteria.

That’s it now. It seems that we have thoroughly gone through this concept of revenue recognition and measurement homework answers.

About the Measurement:

Revenue measurement differs from revenue recognition in terms of its Monetary Value. Measurement units are involved in this. The board has considered the various attributes for measurement like historical value, cash flows, in all financial transactions. Long-term Liabilities as bonds are counted at present value of those cash payments to be made in future.

Whether it is financial accounting, revenue recognition or any other commercial, economical, financial aspect of the company. It is necessary to go through the practical experience for better understanding. Or take examples of your own, assuming you own a company and assume the transactions accordingly. A look through revenue recognition and measurement homework answers can be of real help!

You May Also Like

How We Help With Homework

Our Workflow

trustpilot ratings

4.2/5

trustpilot ratings

4.7/5

trustpilot ratings

4.8/5

5
Step 1

Submit your homework

  • Describe your task requirements, and set the deadline using our online form.

5
Step 2

Connect to qualified tutors

  • Receive instant quotes from experts. Pay using secure payment gateways.

Step 3

Get accurate solutions

  • Receive plagiarism-free solutions in your mentioned deadline. Unlimited free revisions included.

  • NHonest Pricing
  • NBetter Grades
  • NMoney-back Guarantee

High Student Satisfaction

70% Repeat Customers

help with homework

Frequently Asked Questions (FAQs)

Our Answers to Your Questions

C
E

How do I submit my assignment?

Getting assignment help is very simple with us. Students can either send us the homework via email or they can upload it to our online form here. For a quicker response, You can also chat with us at WhatsApp and submit homework directly. You are sure to get a response from our side within 10 minutes. You can pay for your order using secure PayPal or major credit card gateways.

C
E

Who will do my homework?

All our tutor experts are highly qualified professionals – holding at least Master’s degree in their fields. Currently, our tutor pool is made of 400 subject-specific experts.

Each expert has been individually chosen after a series of rigorous screen tests, which involves credential checks, work history analysis, writing sample assessment, and one-on-one interviews.

C
E

How much will my homework cost?

Each assignment is quoted a unique price. It is based on (i) complexity of task, (ii) your deadline and (iii) tutor’s estimate of the time it will take them to complete your homework. There are no obligations, and you are free to discuss the price quote with the tutor.

We also accept partial payment to start working on your assignment help. You can pay the remaining amount when your task gets completed. No pressure of up-front payment. No hidden order costs. We do not have a monthly fees or minimum payments for services.

C
E

Can I pay someone to help me with my homework?

Yes, you can pay online tutors for homework help. There is nothing wrong with asking for help from trained and professional subject tutors to clarify doubts regarding any assignment or coursework.

C
E

What mode of payment is acceptable?

There are several ways to pay for homework help:

  • Credit/Debit Card: You can use your credit or debit card to make a payment online. We accept VISA/MASTERCARD/AMEX.
  • PayPal is a secure online payment service that allows you to pay for essay writing services using your account balance or linked bank account.

C
E

Can I chat with my tutor?

Using our secure chat board, you can now chat directly with your assigned tutor. The chats are encrypted both ways to secure your privacy. This makes your contact with the tutor directly & confidentially, so you can better explain any requirements or changes if needed or just need updates.

You can't contact the experts outside of chat board platform. Sharing any personal information, including but not limited to contact information, goes against our Terms and Conditions and therefore may result in permanently blocking you from the platform. We take any personal data very seriously and we do it for the safety of our users.

Know more about chat board here.

C
E

Can I get free online homework help?

Our homework services are not free because we provide customized, high-quality homework solutions. We have a prepaid system that ensures professional homework helpers are paid fairly for their work and time. We believe that the value of their expertise and the effort they put into crafting each assignment justifies the cost of our service.
C
E

Is My Homework Help Legit?

My Homework help is absolutely legit! We are the leading providers of college homework services since 2012. We connect you with experienced tutors for your assignment and make sure you get completed answers before deadline. Our guarantee is high-quality assignment solutions or your money-back. It’s that risk-free! Furthermore, everything about you is kept confidential.

C
E

Can I trust you for homework help?

My Homework Help is absolutely reliable. Students of the world's top universities use our services and 50% of our customers are repeat customers. Our ordering process is very simple & transparent. There are no hidden fees or subscription anything like that. You can also request a refund if you think that our expert wasn’t able to meet your requirements. Your prime satisfaction is our end goal!

Know more - How it works

C
E

What about privacy & confidentiality?

Using My Homework Help is absolutely safe. We care about your security, therefore we encrypt all personal data to make every user feel safe while using our services and we don’t share any personal information with any third parties without your permission. Your credit card information is not stored anywhere at My Homework Help, and use of PayPal relies on their secure payment networks. Your identity, payment and homework are in safe hands. You can always be certain of getting professional help and remaining anonymous, while using My Homework Help.