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  2. Revenue recognition - Wikipedia

    en.wikipedia.org/wiki/Revenue_recognition

    In accounting, the revenue recognition principle states that revenues are earned and recognized when they are realized or realizable, no matter when cash is received. It is a cornerstone of accrual accounting together with the matching principle. Together, they determine the accounting period in which revenues and expenses are recognized. [1]

  3. Matching principle - Wikipedia

    en.wikipedia.org/wiki/Matching_principle

    A deferred expense (also known as a prepaid expense or prepayment) is an asset representing costs that have been paid but not yet recognized as expenses according to the matching principle. For example, when accounting periods are monthly, an 11/12 portion of an annually paid insurance cost is recorded as prepaid expenses.

  4. Percentage-of-completion method - Wikipedia

    en.wikipedia.org/wiki/Percentage-of-Completion...

    The accounting for long term contracts using the percentage of completion method is an exception to the basic realization principle. This method is used wherein the revenues are determined based on the costs incurred so far. The percentage of completion method is used when: Collections are assured; The accounting system can: Estimate profitability

  5. Historical cost - Wikipedia

    en.wikipedia.org/wiki/Historical_cost

    Accounting standards vary as to how the resultant change in value of an asset or liability is recorded; it may be included in income or as a direct change to shareholders' equity. The capital maintenance in units of constant purchasing power model is an International Accounting Standards Board approved alternative basic accounting model to the ...

  6. Deferral - Wikipedia

    en.wikipedia.org/wiki/Deferral

    In accounting, deferral refers to the recognition of revenue or expenses at a later time than when the cash transaction occurs. This concept is used to align the reporting of financial transactions with the periods in which they are earned or incurred, according to the matching principle and revenue recognition principle .

  7. Installment sales method - Wikipedia

    en.wikipedia.org/wiki/Installment_Sales_Method

    The installment sales method, is used to recognize revenue after the sale has occurred and when sales are stipulated under very extended cash collection terms. [3] In general, when the risk of not being able to collect is reasonably high and when there is no reasonable basis for estimating the proportion of installment accounts, revenue recognition is deferred, and the installment sales method ...

  8. NFL betting: Bills' big win over Lions means Buffalo and ...

    www.aol.com/sports/nfl-betting-bills-big-win...

    The Bills and Lions are now co-favorites to win the Super Bowl. Buffalo’s odds to win Super Bowl LIX improved significantly at BetMGM after its 48-42 win over Detroit in Week 15. Detroit entered ...

  9. Basis of accounting - Wikipedia

    en.wikipedia.org/wiki/Basis_of_accounting

    In accounting, a basis of accounting is a method used to define, recognise, and report financial transactions. [1] The two primary bases of accounting are the cash basis of accounting, or cash accounting, method and the accrual accounting method. A third method, the modified cash basis, combines elements of both accrual and cash accounting.