The right way to recognize revenue.(Staff Accounting Bulletin 101, Revenue Recognition in Financial Statements)

The right way to recognize revenue.(Staff Accounting Bulletin 101, Revenue Recognition in Financial Statements)

Auditors have always focused on possible revenue recognition overstatement in financial statements. Understanding the components of Staff Accounting Bulletin 101, Revenue Recognition in Financial Statements - as well as the regulatory concerns the SEC addressed in issuing it - will help CPAs choose...

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Veröffentlicht in:Journal of Accountancy 2001-06, Vol.191 (6), p.39-39
Hauptverfasser: Phillips, Jr., Thomas J, Luehlfing, Michael S, Daily, Cynthia M
Format: Magazinearticle
Sprache:eng
Schlagworte:
Accounting and auditing
Accounting policies
Accounting procedures
Auditing
Auditors
Business models
Chief financial officers
Corporate profits
Disclosure
Financial reporting
Financial statements
Internet
Management
Product returns
Profit margins
Public companies
Revenue
Revenue recognition
SAB 101
Sales
Staff accounting bulletins
Trends
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Beschreibung
Zusammenfassung:Auditors have always focused on possible revenue recognition overstatement in financial statements. Understanding the components of Staff Accounting Bulletin 101, Revenue Recognition in Financial Statements - as well as the regulatory concerns the SEC addressed in issuing it - will help CPAs choose the most appropriate revenue recognition practices for their companies and their clients. This article provides an overview of SAB 101 and demonstrates to auditors how they can help improve companies' accounting practices.
ISSN:0021-8448
1945-0729