Running a Profitable Business: Revenue Recognition With Jim and Kay Stice

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Running a Profitable Business: Revenue Recognition With Jim and Kay Stice

Size: 596MB | Duration: 1h 32m | Video: AVC (.mp4) 1280x720 30fps | Audio: AAC 48KHz 2ch

Genre: eLearning | Level: Appropriate for all | Language: English

 

Revenue recognition determines when a sale should be recorded: This month or next month? This year or next year? This seems like an easy question until you consider situations in which a company sells a package of goods and services for one joint price, aka multi-element transactions. But without recognizing revenue, a company can't hope to report any profit. Accordingly, company management is typically under great pressure to recognize revenue as soon as possible. Want to understand these concepts better? Join professors Jim and Kay Stice as they introduce the theory, practice, and implications of revenue recognition. Together they demonstrate how this seemingly innocent accounting topic can turn a reported profit into a reported loss, sometimes with multibillion dollar implications for company values. Learn more about basic accounting practices in Jim and Kay's Accounting Fundamentals course.

 

Topics include:

* Defining revenue recognition

* Timing revenue recognition

* Understanding multi-element transactions

* Valuing companies

* Reviewing the great revenue frauds and scandals of history

 

 

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