deferred revenues

Q: What is concept of unearned revenue?

A: When a amount is received in advance for a service or goods and as on reporting date such service is…

Q: Define Deferred revenues.

A: Deferred revenues: Deferred revenue is a liability to render service or to deliver products in…

Q: What do we mean by revenue recognition? What does GAAP say about proper revenue recognition?

A:

Q: Which of the following is an input method for recognizing revenue over time?

A: Cost to Cost Method While recognizing the revenue in the contract work there are different method…

Q: Unearned revenue is:

A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…

Q: What is the two criteria be satisfied before revenue can be recognized?

A: Revenue recognition principle:    Under the revenue recognition principle, revenue and incurrence of…

Q: amount should be reported as deferred revenue

A: Deferred revenue, January 1 800,000 Gift certificates sold 5,000,000 Total deferred revenue…

Q: Why do deferred taxes arise

A: The deferred taxes usually arise when there is balance of over or advance payment of taxes to an…

Q: Explain the components of non operating income.

A: Non Operating Income is that part of an organisation's income that is obtained from activities not…

Q: What are the unofficial earning measures of revenue?

A: Unofficial earning measures of revenue are often called as non-GAAP (Generally Accepted Accounting…

Q: Understand the concept of relevant revenues and costs. What makes a revenue or cost relevant?…

A: solution concept relevant revenue                 relevant revenue means the revenue which has the…

Q: the difference between capital expenditure and revenue expenditure.

A: Expenditure is defined as spending money on something. This can be a cash payment or the exchange of…

Q: Which of the following best describes revenue?

A: In simple accounting term revenue is the amount which company earn by selling goods or providing…

Q: Define Unearned revenue

A: Definition: Deferred revenues: Deferred revenue is a liability to render service or to deliver…

Q: What is a deferred revenue? Provide an example.

A: Deferred revenue: Deferred revenues are revenues related to more than one period.  A deferred…

Q: Explain when it is appropriate to recognize revenue at a single point in time.

A: Revenue refers to the amount of the earning which an organization earns for performing the services.…

Q: Explain the current environment regarding revenue recognition.

A:

Q: revenues and expenses

A: The income statement shows the net income or net loss that includes the revenues and expenses of the…

Q: Define the term unearned revenue.

A: Deferred revenues: Deferred revenue is a liability to render service or to deliver products in…

Q: The primary difference between revenues and gains is:

A: Revenue is the total amount that is earned by selling goods or providing services which are the…

Q: Define the term revenue expenditure.

A: Fixed Assets:   It refers to the long-term assets having a useful life of more than a year which…

Q: Define the term revenue recognition.

A: Accounting principle: These are the guidelines which are to be applied while preparing the…

Q: How is a revenue-recognition abuse related to the percentage of completion method?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: What is the criteria to recognize revenue?

A: Introduction: Taxes, customs charges, earnings from state-owned firms, capital revenues, and foreign…

Q: How is unearned revenue classified on the balance sheet?

A:

Q: In what way do revenues and expenses differ from each other?

A: The difference between income and expenses is simple: income is the money your business takes in and…

Q: What is an accrued revenue? Provide an example.

A: Revenue refers to the income that is received by a business from its business operations and…

Q: Explain Deferred Revenue? How it is different from Deferred Expenditures? Give an example?

A: Explain the meaning of deferred revenue and provide example:Deferred revenues:Collection of cash in…

Q: Define the term deferred rent revenue.

A: Deferred rent revenue, also known as unearned rent revenue, refers to advance payments a company…

Q: What function does the receiving department serve in the revenue cycle?

A:

Q: What is Physical Systems of Revenue Cycle?

A: Revenue cycle           Revenue cycle are divided into two              a. physical phase…

Q: Differentiate the Revenue Cycle and Expenditure cycle

A: The processes of the business are divided into different accounting cycles. The revenue cycle,…

Q: What is Revenue Recognition?

A: The income statement is the one of the financial statements of the business.

Q: What are deferred revenues? Give three examples?

A: Definition of Deferred revenue:Deferred revenue is a liability to render service or to deliver…

Q: Define unearned revenues.

A: Definition: Income: This is the amount earned from the operations of a business. The operating…

Q: What are the revenue cycles ( in proper order)

A: Introduction:- Revenue cycles normally starts from receiving order from consumers or entering in…

Q: When must multiple performance obligations in a revenuearrangement be accounted for separately?

A: Performance Obligation:  Performance obligation means a promise to transfer goods or services. A…

Q: Explain the function of the receiving department in the revenue cycle.

A:

Q: Which one of the following is a revenue expenditure?

A: Revenue expenditure: It refers to the amount spent on normal maintenance and repairs of fixed assets…

Q: Outline revenue recognition criteria under modified accrual accounting

A: Modified accrual accounting: The standards for this approach are set by the Government Accounting…