Changes

4.  There is reasonable expectation of payment from the customers within normal terms of trade.

4.  There is reasonable expectation of payment from the customers within normal terms of trade.

Many accounting abuses by corporations are the result of improper revenue recongition.  These can be from relatively simple frauds, such as recording a sale where the product has not been shipped, to relatively complex frauds involving manipulation of asssumptions under percentage of completion methodologies.

Many accounting abuses by corporations relate to improper revenue recognition.  These can be from relatively simple frauds, such as recording a sale where the product has not been shipped, to relatively complex frauds involving manipulation of asssumptions under percentage of completion methodologies.

[[Category:Economics]]

[[Category:Economics]]