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- Title
Revenue Recognition: A Project to Watch.
- Authors
Curringham, Colleen
- Abstract
This article states that inappropriate revenue recognition continues to be one of the primary reasons for financial restatements. The author states that this is because of the complexity and abundance of literature on the subject rather than because of companies' abuse of regulations. The author discusses the steps that have been taken by the Financial Accounting Standards Board (FASB), including establishing guidelines for mark-to-market performance and completed performance. The author states that the asset-liability approach that the board has decided to use is not what the industry is used to.
- Subjects
RESTATEMENT of corporate earnings; REVENUE accounting; ACCOUNTING standards; ACCOUNTING; STANDARDS; ACCOUNTING methods; FINANCIAL management; FINANCIAL statements; FINANCIAL Accounting Standards Board; BUSINESS communication
- Publication
Financial Executive, 2004, Vol 20, Issue 9, p6
- ISSN
0895-4186
- Publication type
Article