Papers on "Revenue Recognition" and similar term paper topics

Paper #063836 :: Revenue Recognition
Buy and instantly download this paper now

This paper discusses problems of revenue recognition, the major single entity in financial statements.

Written in 2005; 1,660 words; 5 sources; MLA; $ 53.95

Paper Summary:

This paper explains that, since no broad norms on revenue recognition exist, there is a considerable gap between the broad conceptual guidance in the Financial Accounting Standard Board - FASB Concepts Statements and the exhaustive guidance in the authoritative literature. The author points out that more than 50% of the frauds in financial reporting among the U.S. public companies involve overstating the revenue. The paper stresses that, because users in this modern era want instantaneous data in formats which permit rapid access and analysis to assist in the better decisions; companies require trustworthy on-line, real-time reporting that is characterized by (i) dependable systems (ii) usual methods of disseminating information. (iii) corporate accountability, inclusive of management integrity and concrete enterprise risk management and (iv) comprehensible disclosures and information.

Table of Contents
Current Issues and Actions Related to Revenue Recognition
Working Norms for Recognition of Revenues
Definition of Revenues
Problems Related to Revenue Recognition
My Thoughts and Opinions
Control Environment
Matters Needing Special Consideration

From the Paper:

"As regards the items which must be included or excluded from the description of revenues, a consensus was made that - (i) a reporting body must not recognize revenues for the performance by third parties of its responsibility to work or extend services to customers in case those responsibilities are officially assumed by those third parties. (ii) In case of all other situations, a reporting body must recognize revenues for the performance by third parties of its responsibility to do work. (iii) Production will result in effecting a component of wide-ranging income. (iv) Non-reciprocal transfers received must not be excluded from revenues and must not be shown as a distinct line item in the income statement. (v) A reporting body must at the introductory stages measure its obligations for performance guarantees at their fair values and must recognize revenues as a result of their satisfactory performance or completion of those guarantees."

Tags: gap authoritative fraud overstating real-time

More papers on "Revenue Recognition"

1. Paper #026071 :: Revenue Recognition ( 1,277 words; 2 sources; MLA )
2. Paper #072992 :: Recognizing Revenue and Expenses ( 678 words; 4 sources; MLA )
3. Paper #059237 :: Issues in Accounting ( 930 words; 4 sources; APA )
4. Paper #061760 :: Revenue and Expenses ( 2,418 words; 5 sources; MLA )
5. Paper #059492 :: Face Recognition ( 1,680 words; 8 sources; APA )

About AcaDemon

We have thousands of high-quality term papers, research papers, essays, book reports and dissertations on every topic. At AcaDemon, you can download those term papers to help you write yours! You can be sure that the term paper, essay, book report or research paper, you download are top-quality, competitively priced and high-level work.

Look for more research papers, essays and book reports on Revenue Recognition

This Free Term Paper Abstract is a part of our Term Paper Library. Here you can purchase research papers, examples of essays, academic dissertations, articles, notes, analytical papers, book reports, stories and poems. We have thousands of persuasive, point-of-view, narrative, critical, compare and contrast and other types of essays in our Library. You can also find here Term papers on "Revenue Recognition", Essays on "Revenue Recognition", Research papers on "Revenue Recognition", Student papers on "Revenue Recognition", Book reports on "Revenue Recognition", Dissertation on "Revenue Recognition", Thesis on "Revenue Recognition", Summary of paper on "Revenue Recognition", Articles written on "Revenue Recognition".