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- Title
Where Are We with Long-Term Contract Accounting?
- Authors
K. Larson, Robert; L. Brown, Karen
- Abstract
SYNOPSIS: In response to practices by major U.S. corporations, the SEC and the FASB initiated major revenue recognition projects. This commentary examines the accounting for long-term contracts, an aspect of revenue recognition often overlooked in academic research. The exploratory study reported here describes current practices and disclosures about long-term contracts by Fortune 500 corporations, examines the level of comparability in these disclosures, and provides explanations for current practices.
- Subjects
ACCOUNTING; CONTRACTS; REVENUE; FINANCIAL disclosure; ACCOUNTING methods; COMMERCIAL law
- Publication
Accounting Horizons, 2004, Vol 18, Issue 3, p207
- ISSN
0888-7993
- Publication type
Article
- DOI
10.2308/acch.2004.18.3.207