Revenue Recognition Go to the FASB Website, located at http://www.fasb.org/home, and search for information on revenue recognition. Analyze at least two (2) major differences regarding revenue recogni

***** are *** ******** ******* ** ********** **** ** corporations around *** ***** **** ********* *** the generally accepted ********** ********** ** GAAP while international companies use *** ************* ********* ********* ********* ** ******* major *********** differences between *** *** ******* ** ***** ********* of ******* *********** *** ********* ************ principles ** ***************** rulesIn ***** ** ******* *********** the **** ********** *** **** **** ******* ** ***** ************ **** GAAP **** ******* recognition ** ****** by two ******* standards *** four general *************** **** on the ***** hand has ****** ******** ***** and ********** ******** *** * **** ******* of industries ** * ************ ******** example under **** * construction company can ***** ** ***** ******* *********** ***** a ******** ** ********* This **** ***** ** ******** ** ************ ********* ****** **** ** delay ******* any ******* during *** period ** **** in ***** **** *** actually providing ***** ** * ************* **** ***** ******* this is prohibited Instead *** ******* *** *** ******* ** ******* *********** ** choose ************** contract revenue ***** ** the ***** of *** contract *** ********* ***** **** *** *** ********** of the ******** **** has **** ********* ******* this ****** ***** as *** ************************* ******* *** revenue recognized is ************ ** *** relative ********** ** *** ***************** ******* ** *** *********** ***** ******** **** the ********** periodIFRS ****** **** ******* ** the ********* **** ******* ****** ** ********** ** ***** ********* ***** the industry-specific ***** under **** give *** ************ ******* another ****** ******* **** broad **************** **** *** weeds * *** ******* ******* *********** with IFRS ** *********** ** ****** a **** ** ***** a ********* of ******** ************ ********* or the *** of ********* ****** ****** ******** on ********* ****** ********* intellectual property licensing *** ******* use cases) There *** ******** ***** that **** **** ************* **** * sale *** **** ******* as *** ** ***** **** ********** *** ** ******* *** ***** *** consistent *** *************** regardless of ************ on *** ***** hand ****** ** determining whether * sale is ******** or ********** *** **** whether ** *** **** ****** ******* ** not ********** ***** the ******** ** ***** *** ******** occurred ******* ***** **** ********* ****** ************** **** ***** ******* the ********** ** **** **** **** an ********** **** ** ***** ******** to the ******** ** ***** *** business operatesIn **** *** **** ***** *** ** **** ** principle-driven across *** ********** ***** GAAP rules are ****** ******** and can **** ****** **** each **** This *********** ********** ***** * **** comparison ******* the *** ******** **** ** ***** through **** *** GAAP on * transaction-by-transaction ******************** basis  StrategyMerge ***** two systems ** much ** ******** -GAAP ********* **** **** into *** *** ** ************ international standards * unified *** ** accounting ********* will ******* companies investors ********* financial users etc **** helpful *********** **** ** ******** *** ******** *** making ********* ************* *** past several ***** ** *** ************* regulators and ********** ************ **** ***** ***** *** ******* *** ******** goal *** ** **** a ****** ****** ********** ****** **** ************ ****** *** world can *** **** ********* *** parties ***** ****************** ********* **** ** **** **** **** ***** with IFRS ** prepare financial statements on an ******* basis; ******* ******* ** ********** when it is ******** or ************* differences ******* IFRS *** **** *** **** **** ** accountant’s ********** *** *** ***** ** two ******* **** meaningful effects ** ********** *** ********* *** **** the *******

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