Briefly describe the guidelines provided by GAAP for the recognition of revenue by a franchisor for an initialfranchise fee

With consignment sales, at the time of the sale to a third party: the consignee only records revenue the consignor only records revenue the customer records the sale the consignee and the consignor record revenue

When goods are sold on a bill-and-hold basis, what conditions must be met to recognize revenue upon receipt of the order?

Explain how to Determining Whether a Contract Exists for Revenue Recognition Purposes.

The FASB has established a Five-Step process to recognize revenue.  Which of the following is not one of those steps?     A. Ability to identify the contract with the customer.     B. Determination thatcollection of the entitled contractual consideration from the customer is probable.     C. Properly identify all of the performance obligations within the contract.     D. Ability to determine the transaction price.     E. Properly identify all of the deliverables and allocate the transaction price to each.

Explain the mind the relation between the recognition of deferred revenue associated with advance payments and the later recognition of revenue.

how to bill customer using accrual-basis accounting