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Revenue Recognition by Frank J. Beil

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Chapter 1

The Big Picture

Fundamental Concepts

About This Chapter

Revenue is the “top” line on the income statement and is the fundamental driver of business success. It is essential that managers and executives understand the complexities involved in recognizing revenue under Generally Accepted Accounting Principles (GAAP) as that the US Revenue Recognition is primarily concerned with two things; (1) the timing aspect (the when issue) and (2) the amount to be recorded (the how much issue).

This book is principally designed for managers and executives who have organizational responsibility for delivering results in the form of “profits” for their organizations. The book is a comprehensive yet readable examination of the existing rules of revenue ...

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