accounting principles. A number of basic accounting principles have been developed through common usage. And revenue recognition principle is one of the accounting principle and it is an important cornerstone of accrual accounting along with the matching principle. For the revenue recognition principle, the accounting guidelines demand that revenues is to be recorded on the company financial statement when the product delivery or service completion, without regard to the timing of cash flow. So
Words: 336 - Pages: 2
Conditioning and How it Can be Applied to Child Rearing Operant conditioning can be defined as, learning in which a voluntary response is strengthened or weakened, depending on its favorable or unfavorable consequences. When we say that a response has been strengthened or weakened, we mean that is has been made more or less likely to occur (Feldman, 2009). We can achieve such conditioning by using reinforcement. Reinforcement is the process by which a stimulus increases the probability that a
Words: 771 - Pages: 4
Generally accepted accounting principles (GAAP), created with authoritative support, are principles, rules and guidelines required to follow by accountants when preparing financial statements. The Hierarchy of GAAP is a structure consists of four different categories of well- developed accounting principles. The categories are from A to D with category A containing principles with the most authoritative support and category D having the lease. Major sources of The Hierarchy of GAAP are FASB Standard
Words: 741 - Pages: 3
Selenium Reference Concepts A command is what tells Selenium what to do. Selenium commands come in three 'flavors': Actions, Accessors and Assertions. Each command call is one line in the test table of the form: |command |target |value | Actions are commands that generally manipulate the state of the application. They do things like "click this link" and "select that option". If an Action fails, or has an error, the execution of the current test is stopped. Many Actions can
Words: 7020 - Pages: 29
CHAPTER 18 REVENUE RECOGNITION MULTIPLE CHOICE—Conceptual AnswerNo.Description c1.Revenue recognition principle. b2.Definition of "realized." a3.Definition of "earned." d4.Recognizing revenue at point of sale. d5.Recording sales when right of return exists. c6.Revenue recognition when right of return exists. d7.Revenue recognition when right of return exists. b8.Appropriate accounting method for long-term contracts. c9.Percentage-of-completion method
Words: 1473 - Pages: 6
principle and the matching principle. The revenue recognition principle requires that companies recognize revenue in the accounting period in which it is earned. For example, in a service company, revenue is considered to be earned at the time the service is performed. When recognizing expenses, a simple rule is followed; “Let the expenses follow the revenues.” Which means expense recognition is tied to revenue recognition. The practice of expense recognition is referred to as the matching principle because
Words: 360 - Pages: 2
|School of Electronic Engineering and Computer Science | |ELE569 Microwave Electronics | |CAD Techniques for RF Electromagnetic – The Network Analyser | |
Words: 3504 - Pages: 15
At this point, when the goods are delivered to the customer, we should recognize the revenues by crediting it and debiting the liability. Since we are working under the rules of accrual accounting, the matching principle should be used when it comes to expense recognition. According to the matching principle, when one records revenue, he should also record at the same
Words: 381 - Pages: 2
shape of the eyes, nose, cheekbones, and jaw. These features are then used to search for other images with matching features. Other algorithms normalize a gallery of face images and then compress the face data, only saving the data in the image that is useful for face recognition. A probe image is then compared with the face data. One of the earliest successful systems is based on template matching techniques applied to a set of salient facial features, providing a sort of compressed face representation
Words: 554 - Pages: 3
Weekly summary 3 During this week we learnt about the Pricing and economics of strategy where we denoted that Price is the value that is put to a product or service and is the result of a complex set of calculations, research and understanding and risk taking ability. A pricing strategy takes into account segments, ability to pay, market conditions, competitor actions, trade margins and input costs, amongst others. It is targeted at the defined customers and against competitors. Personalized pricing extracts
Words: 322 - Pages: 2
