The revenue recognition standard has been converged and it is anticipated that this convergence will improve financial

Fantastic news! We've Found the answer you've been seeking!

Question:

The revenue recognition standard has been converged and it is anticipated that this convergence will improve financial reporting of revenue and comparability of the top line in financials globally.

What are the six things that are considered as guidance with this new standard?

Related Book For answer-question

Financial and Managerial Accounting Using Excel for Success

ISBN: 978-1111993979

1st edition

Authors: James Reeve, Carl S. Warren, Jonathan Duchac

See More Books

Posted Date: Apr 28, 2024 07:38 AM

See More Questions

importance of workalike balance for women as a leader in healthcare. 1. The purpose of the research; 2. Research question/s; 3. Findings and relevant data; 4. Any recommendations and; 5. The...
As part of an audit team of Alpha Inc., a U.S. listed company, that is the parent of Stella Co., its 100%-owned Chinese subsidiary, you have been assigned to analyze the following information about...
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
In the United States, a principal responsibility for preserving endangered species (e.g., a pair of endangered birds that chooses to nest on private land) and the costs of exercising that...
The gas from a certain volcano had the following composition in mole percent (that is, mole fraction 100): 65.0% CO2, 25.0% H2, 5.4% HCl, 2.8% HF, 1.7% SO2, and 0.1% H2S. What would be the partial...
For a drug and alcohol counsellor, a. What conditions or issues in CP are most pertinent to your professional goals and career interests? b. How will CP add to your understanding of how to respond to...
A finite-element model of a torsional shaft that is attached to a spring of torsional stiffness $k_{t 1}$ at $x=0$ and a spring of torsional stiffness $k_{t 2}$ at $x=L$ must satisfy what...
Jane Baldwin, Anderson Flooring's accounting intern, has prepared the following income statement for the month of June. In preparing the income statement, Jane was unsure what to do with $250,000 in...
4) An audio speaker producing a steady sound at an outdoor concert is 40 ft away from you. If you move to a position where the speaker is 72 ft distant, by what factor will the amplitude of the sound...
Which of the following is not a suggested procedure to establish internal control over cash disbursements? The bank statement is reconciled monthly. Anyone can sign the checks. Blank checks are...
Which of the following will happen as a result of the collision in the exercise 13? Support your answer with numbers. a. The shell will bounce off without denting the armor plate. b. The armor plate...
What does the payback method use to rank projects? a. How long the invested money is at risk b. The relative size of the potential profit c. The number of years the well will be producing d. The size...
In project analysis, which method(s) do not permit the ranking of several competing investment options? a. Payback method b. Accounting rate of return c. Net present value d. Internal rate of return...
Stephens Company operates a single field in Wyoming in which it has a 48% working interest. The remainder of the working interest is held by another oil company. The field went onto production in...
Plot Ka as a function of the absorption edge and see if there is any likely trend. (Table 21-2.) Try and explain the trend(s) if you find any. Table 21-2 Characteristic emission lines and absorption...
Edna, Elsa, and Ellen are sisters who own 500 acres of land as tenants in common. Discuss the interest each has in the real estate.
The diameter of a sphere is 18 in. Find the largest volume of regular pyramid of altitude 15 in. that can be cut from the sphere if the pyramid is (a) square, (b) pentagonal, (c) hexagonal, and (d)...
For many years, womens professional basketball struggled for consistency in the United States. Since 1978, when the Womens Professional Basketball League (WBL) was formed, leagues have had difficulty...
That financial ratios are most valuable when viewed in comparison to the organizations historical ratio values and competitors values. Why is this context valuable when examining financial ratio...
What are the five forms of financing, and how is each used within sport?

The revenue recognition standard has been converged and it is anticipated that this convergence will improve financial

Question:

Expert Answer:

The six things considered as guidance with the new revenue recognition standard are 1 Identification ... View the full answer

Financial and Managerial Accounting Using Excel for Success

Students also viewed these accounting questions