What is RECOGNITION OF REVENUE?

According to the provisions of the GAAP, revenue may be recognized when cash is received or its ultimate receipt becomes certain or enforceable. Inclusion of revenue in an income account.

More On This Topic



Link to This Definition
Did you find this definition of RECOGNITION OF REVENUE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary