Recognize revenue: When it is earned and realizable
- Goods shipped or services rendered
- Invoice sent to customer, but not necessarily paid for
Realize revenue: When cash is received
- Customer pays for goods delivered or services rendered
Accounting Flashcards
Accounting Flashcards includes a translate button for English, Chinese, and Spanish.
Learn financial accounting using beautifully illustrated flashcards, coordinated lessons, and rich audio. Whether you are an aspiring CPA or IFRS expert, use this accountancy app to reach your goals. Even an aspiring chartered accountant or those reaching for the CPA Australia can benefit. Topics of accounting standards, equation, terms, ratios, and more are covered.
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