- NY Credits : 3.0
- TX Credits : 3.0
GAAP Reporting for Revenue and Expenses
This course presents the appropriate reporting for revenue and expenses through an analysis of topics to include involuntary conversions, percentage revenue, accounting for shipping and handling costs, income statement characterization of reimbursements received, reporting revenue gross versus net, cash received by a reseller from a vendor, and gift certificates. This course also delves into depreciation, amortization, concentrations, fiscal years, personal financial statements, and related party disclosures and transactions.
Upon successful completion of GAAP Reporting for Revenue and Expenses, the user should be able to:
recognize the proper accounting and reporting for involuntary conversions, percentage revenue, shipping and handling costs, reimbursements and gift certificates;
identify GAAP for reporting revenue gross versus net;
determine the appropriate reporting for depreciation and amortization; and
recognize how to report concentrations, fiscal years and personal financial statements in accordance with GAAP.