prepared by: jan hájek accounting lecture no 9 rev. recog - 2 definitions revenues inflows of...

Prepared by: Jan Hájek

Accounting

Lecture no 9

Rev. Recog - 2

DEFINITIONS Revenues

Inflows of assets or settlements of liabilities during a period from delivering or producing goods or services.

ExpensesOutflows of assets or incurrence of liabilities during

a period from delivering or producing goods or services.

○ Incurred in an attempt to produce revenues

Revenue and ExpensesThe price for goods sold and services rendered during a given accounting period.

Increases owner’s equity.

The costs of goods and services used up in the process of earning revenue.

Decreases owner’s equity.

Debits and Credits for Revenue and Expense

EQUITIES

Debit for

Decrease

Credit for

Increase

REVENUES

Debit for

Decrease

Credit for

Increase

EXPENSES

Credit for

Decrease

Debit for

Increase

Expenses decrease owner’s equity.

Revenues increase owner’s equity.

Rev. Recog - 5

REVENUE PRINCIPLE

Revenue should be recognized in the financial statement when . . .

It is earned, and

It is realized or realizable

(Measurable)

Rev. Recog - 6

REVENUE PRINCIPLE Revenue is earned when the earnings

process is completed or virtually completed.

Revenue is realized when cash is received.

Revenue is realizable when claims to cash are received that can be converted into a known amount of cash.

Rev. Recog - 7

REVENUE PRINCIPLE

Revenue is typically recognized:

○ At delivery (point of sale)

○ After delivery○ Before delivery

of product or service

Rev. Recog - 8

REVENUE RECOGNITION POINTS

Design and production,construction in progress,minerals discovered

Goods completedand ready for sale,contract complete

Delivery ofproduct or

service

Cash collectedfor goods or

services

Right ofreturn expires

Recognition before delivery

Recognition after delivery

Recognitionat delivery

Percentage-ofcompletion method

Productionmethod

Completedcontractmethod

Pointof salemethod

Installment method

Costrecovery method

Right ofreturn

expiration method

RELEVANCE RELIABILITY

Rev. Recog - 9

Revenue is earned and realized at the point of sale.

The product or service has been delivered to the customer and cash has been received or is receivable.

This method is sometimes called the “sales method,” or “delivery method.”

REVENUE RECOGNITION Point of Sale

Rev. Recog - 10

Uncertainties about collectibility or future performance by seller.

Sale with right of return.

Product-financing arrangements.

REVENUE RECOGNITION After Delivery

Rev. Recog - 11

INSTALLMENT SALES When we are uncertain about the

collectibility of the sales revenue or the ability of the seller to deliver futures services, we should defer revenue recognition.

Two commonly used accounting methods are the . . .Installment sales method.Cost recovery method.

Rev. Recog - 12

INSTALLMENT SALES

Installment Sales MethodSale and cost of sale recorded as usual.Compute gross margin rate on the installment

sales.Recognize gross margin as cash is received.Gross margin not realized is deferred until a

future period.

Rev. Recog - 13

INSTALLMENT SALESExample

Sam’s Appliances made sales of $200,000 in 20xx that qualified for the installment sales method of

accounting. The items sold have a cost to Sam’s of $130,000. During 20xx, Sam’s

collected cash from installment customers of $90,000. The remaining amount will be

collected in 20xx.

Prepare the journal entries to record the installment sales transactions during 20xx.

Rev. Recog - 14

INSTALLMENT SALES

Sam's AppliancesInstallment Sales

Dollars PercentInstallment sales revenue 200,000$ 100%Cost of goods sold 130,000 65%Gross margin 70,000$ 35%

Rev. Recog - 15

INSTALLMENT SALES

GENERAL JOURNAL Page 34

Date DescriptionPost. Ref. Debit Credit

Installment Accounts Receivable 200,000

Installment Revenue 200,000

Rev. Recog - 16

INSTALLMENT SALES





Cost of Installment Sales 130,000

Inventory 130,000

Rev. Recog - 17




Cash 90,000


Rev. Recog - 18






Deferred Gross Margin 70,000

Rev. Recog - 19








Realized Gross Margin 31,500

Rev. Recog - 20







Realized Gross Margin 31,500


Cash collection in 20xx $90,000Gross margin percentage 35%Gross profit to recognize $31,500

Rev. Recog - 21

INSTALLMENT SALES

Installment accounts receivable 110,000$Less: Deferred gross margin 38,500 Net Installment accounts receivable 71,500$

Balance Sheet

Rev. Recog - 22

INSTALLMENT SALES

Installment accounts receivable 110,000$Less: Deferred gross margin 38,500 Net Installment accounts receivable 71,500$

Installment accounts receivable 200,000$Less: Cash collections (90,000) Installment accounts receivable 110,000$

Deferred gross margin 70,000$ Less: Gross margin recognized (31,500) Deferred gross margin 38,500$

Balance Sheet

Rev. Recog - 23

COST RECOVERY METHOD

Like the installment sales method, cost recovery is used when we are uncertain about the collectibility of the sales revenue or the ability of the seller to complete future performance.

UNCERTAINTY IS GREATER!

No profit is recognized until cost of item sold is fully recovered.

Rev. Recog - 24

COST RECOVERY

Sam’s Appliances made sales of $200,000 in 20xx that qualified for the cost recovery

method of accounting. The items sold have a cost to Sam’s of $130,000. During 20xx,

Sam’s collected cash from installment customers of $90,000. The remaining

amount will be collected in 20xx.

Prepare the journal entries to record the installment sales transactions during 20xx.

Rev. Recog - 25

COST RECOVERY





Rev. Recog - 26

COST RECOVERY






Inventory 130,000

Rev. Recog - 27

COST RECOVERY






Rev. Recog - 28

COST RECOVERY



Cash 90,000


No profit is recognized in 20xx because the cost of theitem sold ($130,000) has not been recovered in theform of cash receipts. Once we collect $130,000 in

cash, profit recognition begins.

Rev. Recog - 29

COST RECOVERY

All gross profit has been deferred until we recover the$130,000 cost of the item sold.

Installment accounts receivable 110,000$Less: Deferred gross margin (70,000) Net Installment accounts receivable 40,000$

Balance Sheet

Rev. Recog - 30

RIGHT OF RETURN

In some industries it is common practice that the sales terms allow customers the

right to return goods under specified conditions and over long periods of time.

Book Publishing Equipment Manufacturing

Rev. Recog - 31

RIGHT OF RETURNRecognize revenue at point of sale if,

Selling price is fixed or determinable. Buyer is obligated to pay the seller and payment is not

contingent upon resale of the product. Buyer is obligated even in case of theft or physical

destruction. Buyer has economic substance apart from that

provided by the seller. Seller has no obligation for future performance. Future returns can be estimated.

Rev. Recog - 32

PRODUCT-FINANCING ARRANGEMENTS

An agreement in which a sponsoring company sells a product to another company and in a related transaction agrees to repurchase the product.

The sponsoring companyRecords a liability when the proceeds are

received.No sale is recorded and inventory is not

adjusted. Wait for a sale to outside party.

Rev. Recog - 33

REVENUE RECOGNITION Before Delivery

Accounting for long-term construction contractsCompleted-Contract MethodPercentage-of-Completion Method

Rev. Recog - 34

REVENUE RECOGNITION Before Delivery

Percentage-of-completion method is appropriate when . . . Contract specifies the amount of consideration

to be exchanged and the terms of settlement.Buyer is expected to satisfy the obligation.Contractor can perform according to the terms

of the contract.

Rev. Recog - 35

MEASURING PROGRESS TOWARD COMPLETION

Input MeasuresEffort devoted to project compared to total

effort expected (cost incurred to date compared to total estimated costs)

Output MeasuresResults to date compared to total results

Rev. Recog - 36


Cost-to-Cost Method Total costs incurred to date Percent complete = Most recent estimate of total costs of the project

Rev. Recog - 37


Cost-to-Cost Method

Current Period Revenue

Total Revenue from Contract× Percent CompleteTotal Revenue to Recognize- Revenue Recognized in Prior Periods= Revenue Recognized in Current Period

Rev. Recog - 38

LONG-TERM CONTRACTSExample

During 20xx, West, Inc. enters into a contract with Putnam County to build a bridge over

Cane River. The project will take 3 years to complete and has a fixed price of

$4,500,000. West’s engineers estimate the total cost of the bridge to be $3,000,000. At the end of 20xx, the information on the next page was gathered by West’s accountant.

Rev. Recog - 39


Project costs incurred during 20xx 750 000$ Estimated cost to complete the bridge 2 250 000 Amounts billed to Putnam Co. in 20xx 800 000 Cash collections from Putnam Co. 790 000

West uses the percentage-of-completionmethod to account for all long-term

construction projects.

Prepare the necessary 20xx journal entries for this project.

Rev. Recog - 40




Construction-In-Process 750,000

Cash, Payables, etc. 750,000

Rev. Recog - 41






Accounts Receivable 800,000

Billings on Contracts 800,000

Rev. Recog - 42







Billings on Contracts 800,000

Cash 790,000


Rev. Recog - 43





Cost of Construction 750,000

Construction Revenue 1,125,000

750,000$ ÷ 3,000,000$ = 25% complete4,500,000$ × 25% = 1,125,000$ revenue1,500,000$ × 25% = 375,000$ profit

Rev. Recog - 44





Cost of Construction 750,000

Construction Revenue 1,125,000

If West uses the Completed-Contract method, norevenue is recognized during 19X6. Allrevenue and profit is recognized at the

end of the contract when delivery of the bridge toPutnam County is made.

Rev. Recog - 45

REVENUE RECOGNITION Before Delivery Completion of Production

Accretion Basis

Discovery Basis

Rev. Recog - 46

REVENUE RECOGNITION Service Sales

Specific Performance Method

Proportional Performance Method

Completed Performance Method

Collection

Rev. Recog - 47

SPECIFIC PERFORMANCE

Used to account for revenue that is earned by performing a single act.Franchise revenue (SFAS No. 45)

Bob’sBurgers

Rev. Recog - 48

PROPORTIONAL PERFORMANCE

Used to recognize service revenue that is earned by more than a single act and when the service is rendered in more than one accounting period.Similar performance acts - equal amount for

each actDissimilar performance acts - in proportion to

direct costs of each actSimilar acts with a fixed period for

performance

Rev. Recog - 49

COMPLETED PERFORMANCE

Used when revenue is earned by performing a series of acts, and the last act is so important that revenue is only considered earned if it is performed.

Rev. Recog - 50

COLLECTION Used to account for service revenue when

the uncertainty of collection is very high. Revenue recognized when cash is

received.

Rev. Recog - 51

EXPENSE RECOGNITION

Expenses are outflows of assets or incurrences of liabilities during a period

from delivery or producing goods or rendering services.

Rev. Recog - 52

MATCHING Once revenues are determined, the

expenses incurred in generating the revenue should be recognized.

As revenues are earned, certain assets are consumed and services are used.

53

What is expenses? The costs associated with

producing revenue. What impact do expenses have

on equity? Expenses represent a decrease in

equity resulting from the cost of producing revenue.

Examples????

Expenses

Rev. Recog - 54

EXPENSES Recognition Methods

Direct

Period

Allocated

55

A company pays wages of $250. Before using expense accounts:

Expenses

Dr. Owner’s Equity $250 Cr. Cash $250

Using expense accounts: Dr. Wages Expense $250 Cr. Cash $250

Rev. Recog - 56

GAINS AND LOSSES Gains and losses result from peripheral or

incidental transactions, events, or circumstances.

Most gains and losses are recognized when the transaction is completed.

Estimated losses are recognized before

realization if they are probable and can be

reasonably estimated.

TIME PERIOD ASSUMPTIONTIME PERIOD ASSUMPTION

The time period (or periodicity) assumption assumes that the economic life of a business can be divided into artificial time periods — generally a month, a quarter, or a year.

Periods of less than one year are called interim periods.

The accounting time period of one year in length is usually known as a fiscal year.

REVENUE RECOGNITION PRINCIPLEREVENUE RECOGNITION PRINCIPLE

The revenue recognition principle states that revenue should be recognized in the accounting period in which it is earned.

In a service business, revenue is usually considered to be earned at the time the service is performed.

In a merchandising business, revenue is usually earned at the time the goods are delivered.

THE MATCHING PRINCIPLETHE MATCHING PRINCIPLE

The practice of expense recognition is referred to as the matching principle.

The matching principle dictates that efforts (expenses) be matched with accomplishments (revenues).

Revenues earned

this month

are offset against....

expensesincurred inearning the

revenue

ACCRUAL BASIS OF ACCOUNTINGACCRUAL BASIS OF ACCOUNTING

Adheres to theRevenue recognition principleMatching principle

Revenue recorded when earned, not only when cash received.

Expense recorded when services or goods are used or consumed in the generation of revenue, not only when cash paid.

GA

AP

Revenue recorded only when cash received.

Expense recorded only when cash paid.

NO

T GA

AP

CASH BASIS OF ACCOUNTINGCASH BASIS OF ACCOUNTING

Adjusting entries make the revenue recognition and matching principles

HAPPEN!

ADJUSTING ENTRIESADJUSTING ENTRIES

TRIAL BALANCE

Debit CreditCash 15,200$ Advertising Supplies 2,500 Prepaid Insurance 600 Office Equipment 5,000 Notes Payable 5,000$ Accounts Payable 2,500 Unearned Revenue 1,200 C.R. Byrd, Capital 10,000 C.R. Byrd, Drawings 500 Service Revenue 10,000 Salaries Expense 4,000 Rent Expense 900

28,700$ 28,700$

Pioneer Advertising AgencyTrial Balance

October 31, 2002

The Trial Balance is

analysed to determine the

need for adjusting entries.

The Trial Balance is

analysed to determine the

need for adjusting entries.

Adjusting entries are required each time financial statements are prepared.

Adjusting entries can be classified as1. prepayments (prepaid expenses or

unearned revenues), 2. accruals (accrued revenues or

accrued expenses), or3. estimates (amortization).

ADJUSTING ENTRIESADJUSTING ENTRIES

TYPES OF ADJUSTING ENTRIESTYPES OF ADJUSTING ENTRIES

Prepayments

1. Prepaid Expenses — Expenses paid in cash and recorded as assets before they are used or consumed.

2. Unearned Revenues — Revenues received in cash and recorded as liabilities before they are earned.

TYPES OF ADJUSTING ENTRIESTYPES OF ADJUSTING ENTRIES

Accruals

1. Accrued Revenues — Revenues earned but not yet received in cash or recorded.

2. Accrued Expenses — Expenses incurred but not yet paid in cash or recorded.

TYPES OF ADJUSTING ENTRIES

Estimates

1. Amortization — Allocation of the cost of capital assets to expense over their useful lives.

PREPAYMENTSPREPAYMENTS

Prepayments are either prepaid expenses or unearned revenues.

Adjusting entries for prepayments are required to record the portion of the prepayment that represents1. the expense incurred or,2. the revenue earned in the current

accounting period.

Prepaid expenses are expenses paid in cash and recorded as assets before they are used or consumed.

Prepaid expenses expire with the passage of time or through use and consumption.

An asset-expense account relationship exists with prepaid expenses.

PREPAID EXPENSESPREPAID EXPENSES

Prior to adjustment, assets are overstated and expenses are understated.

The adjusting entry results in a debit to an expense account and a credit to an asset account.

Examples of prepaid expenses include supplies, rent, insurance, and property tax.

PREPAID EXPENSESPREPAID EXPENSES

Unearned revenues are revenues received and recorded as liabilities before they are earned.

Unearned revenues are subsequently earned by performing a service or providing a good to a customer.

A liability-revenue account relationship exists with unearned revenues.

UNEARNED REVENUESUNEARNED REVENUES

Prior to adjustment, liabilities are overstated and revenues are understated.

The adjusting entry results in a debit to a liability account and a credit to a revenue account.

Examples of unearned revenues include rent, magazine subscriptions, airplane tickets, and tuition.

UNEARNED REVENUESUNEARNED REVENUES

ADJUSTING ENTRIES FOR PREPAYMENTS

Adjusting Entries

Asset

Unadjusted Balance

Credit Adjusting Entry (-)

Expense

Debit Adjusting Entry (+)

Prepaid Expenses

Liability

Unadjusted Balance

Debit Adjusting Entry (-)

Revenue

Credit Adjusting Entry (+)

Unearned Revenues

ACCRUALSACCRUALS

A different type of adjusting entry is accruals.

Adjusting entries for accruals are required to record revenues earned and expenses incurred in the current period.

The adjusting entry for accruals will increase both a balance sheet and an income statement account.

Accrued revenues may accumulate with the passing of time or through services performed but not billed or collected.

An asset-revenue account relationship exists with accrued revenues.

Prior to adjustment, assets and revenues are understated.

The adjusting entry requires a debit to an asset account and a credit to a revenue account.

Examples of accrued revenues include accounts receivable, rent receivable, and interest receivable.

ACCRUED REVENUESACCRUED REVENUES

Accrued expenses are expenses incurred but not yet paid.

A liability-expense account relationship exists.

Prior to adjustment, liabilities and expenses are understated.

The adjusting entry results in a debit to an expense account and a credit to a liability account.

Examples of accrued expenses include accounts payable, rent payable, salaries payable, and interest payable.

ACCRUED EXPENSESACCRUED EXPENSES

FORMULA TO CALCULATE INTEREST

Face Value of

Note

Annual Interest

Rate

Time (in Terms of

One Year) x x Interest

$5,000 x 6% x 1/12 = $25

=

Adjusting Entries

Asset


Accrued Revenues

Revenue


Accrued Expenses

Expense


Liability


ADJUSTING ENTRIES FOR ACCRUALS

Amortization is the process of allocating the cost of certain capital assets to expense over their useful life in a rational and systematic manner.

Amortization attempts to match the cost of a long-term, capital asset to the revenue it generates each period.

AMORTIZATIONAMORTIZATION

AMORTIZATIONAMORTIZATION

Amortization is an estimate rather than a factual measurement of the cost that has expired.

We’re not attempting to reflect the

actual change in value of an asset!

Accumulated AmortizationAmortization Expense

AMORTIZATIONAMORTIZATION In recording amortization, Amortization

Expense is debited and a contra asset account, Accumulated Amortization, is credited.

The difference between the cost of the asset and its related accumulated amortization is referred to as the net book value of the asset.

xxx xxx

AMORTIZATION

Balance Sheet Presentation

Office equipment $5,000

Less: Accumulated amortization 83

Net book value $4,917

SUMMARY OF ADJUSTING ENTRIES

1.Prepaid Assets and Assets overstated Dr. Expenses expenses expenses

Expenses understated Cr. Assets2.Unearned Liabilities and Liabilities overstated Dr. Liabilities

revenues revenues Revenues understatedCr. Revenues

3.Accrued Assets and Assets understated Dr. Assets revenues revenuesRevenues understated Cr. Revenues4.Accrued Expenses and Expenses understated Dr. Expenses expenses liabilitiesLiabilities understated Cr. Liabilities5.Amortization Expense and Expenses understated Dr. Amort. Exp contra asset Assets overstated Cr. Accum. Amortization

1.Prepaid Assets and Assets overstated Dr. Expenses expenses expenses

Expenses understated Cr. Assets2.Unearned Liabilities and Liabilities overstated Dr. Liabilities

revenues revenues Revenues understatedCr. Revenues

3.Accrued Assets and Assets understated Dr. Assets revenues revenuesRevenues understated Cr. Revenues4.Accrued Expenses and Expenses understated Dr. Expenses expenses liabilitiesLiabilities understated Cr. Liabilities5.Amortization Expense and Expenses understated Dr. Amort. Exp contra asset Assets overstated Cr. Accum. Amortization

Type of Account Accounts before AdjustingAdjustment Relationship Adjustment Entry

ADJUSTED TRIAL BALANCEADJUSTED TRIAL BALANCE An Adjusted Trial Balance is prepared after all

adjusting entries have been journalized and posted.

It shows the balances of all accounts at the end of the accounting period and the effects of all financial events that have occurred during the period.

It proves the equality of the total debit and credit balances in the ledger after all adjustments have been made.

Financial statements can be prepared directly from the adjusted trial balance.

Debit Credit Debit CreditCash 15,200$ 15,200$ Accounts Receivable 200 Advertising Supplies 2,500 1,000 Prepaid Insurance 600 550 Office Equipment 5,000 5,000 Accumulated Amort'n. 83$ Notes Payable 5,000$ 5,000 Accounts Payable 2,500 2,500 Unearned Revenue 1,200 800 Salaries Payable 1,200 Interest Payable 25 C.R. Byrd, Capital 10,000 10,000 C.R. Byrd, Drawings 500 500 Service Revenue 10,000 10,600 Adv. Supplies Expense 1,500 Amortization Expense 83 Insurance Expense 50 Salaries Expense 4,000 5,200 Rent Expense 900 900 Interest Expense 25

28,700$ 28,700$ 30,208$ 30,208$

Pioneer Advertising AgencyTrial Balance

October 31, 2002Before Adjustment After Adjustment

TRIAL BALANCE AND ADJUSTED TRIAL BALANCE COMPARED

PREPARING FINANCIAL STATEMENTSPREPARING FINANCIAL STATEMENTS

Financial statements can be prepared directly from an adjusted trial balance.1. The income statement is prepared from the revenue and expense accounts.2. The statement of owner’s equity is derived from the owner’s capital and drawings accounts and the net income (or net loss) shown in the income statement.3. The balance sheet is then prepared from the asset and liability accounts and the ending owner’s capital balance as reported in the statement of owner’s equity.

PREPARATION OF THE INCOME STATEMENT AND THE STATEMENT OF OWNER’S EQUITY FROM THE ADJUSTED TRIAL BALANCE

RevenuesService Revenue 10,600$

ExpensesAdv. Supplies Expense 1,500$ Amortization Expense 83 Insurance Expense 50 Salaries Expense 5,200 Rent Expense 900 Interest Expense 25 Total Expenses 7,758

Net Income 2,842$

Pioneer Advertising AgencyIncome Statement

For the Month Ended October 31, 2002

C.R. Byrd, Capital, October 1 -$ Add: Investments 10,000 Net income 2,842

12,842 Less: Drawings 500 C.R. Byrd, Capital, October 31 12,342$

Statement of Owner's EquityFor the Month Ended October 31, 2002

Pioneer Advertising Agency

Debit CreditCash 15,200$ Accounts Receivable 200 Advertising Supplies 1,000 Prepaid Insurance 550 Office Equipment 5,000 Accumulated Amort'n. 83$ Notes Payable 5,000 Accounts Payable 2,500 Unearned Revenue 800 Salaries Payable 1,200 Interest Payable 25 C.R. Byrd, Capital 10,000 C.R. Byrd, Drawings 500 Service Revenue 10,600 Adv. Supplies Expense 1,500 Amortization Expense 83 Insurance Expense 50 Salaries Expense 5,200 Rent Expense 900 Interest Expense 25

30,208$ 30,208$

Pioneer Advertising AgencyAdjusted Trial Balance

October 31, 2002

Debit CreditCash 15,200$ Accounts Receivable 200 Advertising Supplies 1,000 Prepaid Insurance 550 Office Equipment 5,000 Accumulated Amort'n. 83$ Notes Payable 5,000 Accounts Payable 2,500 Unearned Revenue 800 Salaries Payable 1,200 Interest Payable 25 C.R. Byrd, Capital 10,000 C.R. Byrd, Drawings 500 Service Revenue 10,600 Adv. Supplies Expense 1,500 Amortization Expense 83 Insurance Expense 50 Salaries Expense 5,200 Rent Expense 900 Interest Expense 25

30,208$ 30,208$

Pioneer Advertising AgencyAdjusted Trial Balance

October 31, 2002

Cash 15,200$ Accounts Receivable 200 Advertising Supplies 1,000 Prepaid Insurance 550 Office Equipment 5,000$ Less: Accumulated Amortization 83 4,917

Total Assets 21,867$

Liabilities and Owner's EquityLiabilities Notes Payable 5,000$ Accounts Payable 2,500 Unearned Revenue 800 Salaries Payable 1,200 Interest Payable 25

Total Liabilities 9,525$ Owner's EquityC.R. Byrd, Capital 12,342 Total Liabilities and Owner's Equity 21,867$

October 31, 2002Assets

Pioneer Advertising AgencyBalance Sheet

PREPARATION OF THE BALANCE SHEET FROM THE ADJUSTED TRIAL BALANCE

From Statement of Owner’s

Equity

1. Analyse transactions 2. Journalize the

transactions

3. Post to ledger accounts

4. Prepare a trial balance

5. Journalize and post adjusting entries

6. Prepare adjusted trial

balance

7. Prepare financial

statements

8. Coming next chapter

9. Coming next chapter

STEPS IN THE ACCOUNTING CYCLESTEPS IN THE ACCOUNTING CYCLE

prepared by: jan hájek accounting lecture no 9 rev. recog - 2 definitions revenues inflows of...

Documents

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revenue principle revenue

delivery method

delivery slide

service slide

contract method

delivery recognition

delivery point of sale