Question: When an accountant is deciding whether to record a transaction one option is to record based on revenue recognition criteria. This involves an approach it

When an accountant is deciding whether to record a transaction one option is to record based on revenue recognition criteria. This involves an approach it instead the decision is based on whether an economic resource is received and it meets the definition of an asset, this bar approach. In recent years, the FASB has shifted to focusing on an approach

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