中级财务会计英文ch12.pptVIP

Revenue Recognition Chapter 12 Learning Objectives Apply the revenue recognition principle. Describe accounting issues for revenue recognition at point of sale. Apply the percentage-of-completion method for long-term contracts. Apply the completed-contract method for long-term contracts. Identify the proper accounting for losses on long-term contracts. Describe the installment-sales method of accounting. Explain the cost-recovery method of accounting. Revenues Inflows of assets or settlements of liabilities during a period from delivering or producing goods or services. Expenses Outflows of