Colleges and universities are vast operations that entail many businesses within their organizational structure. for instance, colleges and universities may operate housing facilities, museums, hospitals and other types of revenue producing facilities. within this multitude of business operations, there are revenue issues that the college or university must face on a regular basis.

Mentioned two to three issues that involve revenue. How should the items be accounted for on the financial statements and in the notes?

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Firstly we would like to understand the fundamental concept of revenue where there are two kinds of ... View the full answer