recognition of revenue
Definition
Inclusion of revenue in income (profit and loss) account. According to the provisions of GAAP, revenue may be recognized when cash is received or its ultimate receipt becomes certain or enforceable on the basis of a contract of sale (invoice).
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recognition of revenue is in the Accounting & Auditing and Banking, Commerce & Finance subjects.
recognition of revenue appears in the definitions of the following terms: realization and summary of significant accounting policies (SSAP)
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