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Indicators ot Improper Revenue Recognition 72 91
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accepted accounting principles accounting principles affect revenue recognition AICPA application assertions about revenue assess control risk audit committee audit procedures audit risk Auditing Standards Board auditor should consider bill and hold buyer client’s company’s complete concessions conﬁrmation conﬁrming contract accounting credit memos criteria customer’s deferred revenue delivered elements delivery described in paragraph disclosure distributors documentation earnings process effectiveness EITF Issue end users entity entity’s evaluating example exist fair value FASB Statement Financial Statement ﬁnancial statements ﬁxed or determinable GAAP high-technology companies hold sales improper revenue recognition incentives internal control inventory management’s ment modiﬁcations multiple-element arrangement obligations obtain evidential matter payment terms performance personnel Professional Standards proﬁt reasonable estimate recognize revenue resellers revenue transactions rights of return risk of material sales returns seller side agreements Software Revenue Recognition software vendors speciﬁc substantive procedures sufﬁcient tests of controls undelivered value-added resellers VSOE