What three conceptual factors affect the decision as to when to recognize revenue.

What are the three revenue recognition alternatives?

Under what circumstances does a company recognize revenue prior to the completion of the earnings process?

Under what circumstances does a company use the percentage of completion method for long term contracts?

How may the departure from the principle of recognizing revenue only at the completion of the earnings process be justified when a company uses the percentage of completion method.

Describe input ad output measures used in the percentage of completion method. Give an example of each.

How does a company account for losses under the two methods of accounting for long term construction contracts?

How does a company classify the following accounts in its financial statements: Construction in Progress, Partial billings, Construction Revenue, and Construction Expense?

Describe the difference between the cost recovery method and the installment method of revenue recognition.

When a contract has multiple elements (multiple deliverables), how does GAAP determine if one of the elements should be considered a separate unit of accounting?

Distinguish between the initial franchise fee and continuing franchise fee. When is each recognized as revenue?

How is revenue recognized for real estate sales?

In a consignment, does consignee or consignor retain title to the property? When is revenue recognized by the consignor? The consignee?