FIN 360 Chapter Notes - Chapter 5: Preferred Stock, Deferred Tax, Shares Outstanding

• School: Quinnipiac University
• Department: Finance
• Course: FIN 360
• Professor: Thomas Coe

Document Summary

Realized/realizable the seller"s (cid:374)et asset (cid:894)asset less lia(cid:271)ilities(cid:895) i(cid:374)(cid:272)reased. Earned that the seller has performed its duties under the terms of the sales agreement and that title to the product sold has passed to the buyer with no right of return or other contingencies. Which recognizes revenue by determining the costs incurred under the contract relative to its total expected costs. The percentage-of-completion method of revenue recognition requires an estimate of total costs. This estimate is made at the beginning of the contract and is typically the one used to initially bid the contract. Recognition of unearned revenue companies must record unearned revenues, a liability, and only record revenue when those products and services are provided: the company is obligated to deliver those products and services. Research and development (r&d) expenses - accounting for r&d. Accounting for r&d is straightforward: r&d costs are expensed as incurred.