Revenue Recognition Definition | Becker

Accounting Dictionary

Revenue Recognition

 

  1. Revenue is recognized when an entity satisfies a performance obligation by transferring either a good or a service to a customer. See also realization and recognition. An accounting principle under generally accepted accounting principles (GAAP) that determines the specific conditions under which revenue is recorded in the financial statements.

 

Related Terms:

Realization [FARBAR]Recognition [FARBAR]Back to Dictionary

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