--%>
Assignment Help - homework help

Meaning of Bill and Hold

What is the meaning of Bill and Hold in Accounting? Briefly describe it.

E

Expert

Verified

Meaning of Bill and Hold in Accounting: As per accrual rule of revenue recognition, we add up new revenue in our total revenue whenever we send service or goods and are given but there are plenty of its exceptions. One of significant exception is bill and hold. When customer requires not his bought products at a time due to delay of its management, he demands to delay the delivery of such products. At that time company records, these sold products in his sales account. This means, such transaction will be recognize as revenue of company. Therefore, this transaction will become bill and hold in accounting. For safer side, company gets cash money from this kind of transaction that treated as normal cash sales transaction.

   Related Questions in Financial Accounting

  • Q : Income Tax and Investment Calculator

    Introduction Your task is to produce a Java program, which can calculate income tax and investment growth based on the yearly income/salary of an individual. Below the details are descr

    		•
  • Q : Avoidable Interest The book says

    The book says "avoidable interest is the amount of interest cost during the period that a company could theoretically avoid if it had not made expenditures for the asset." This makes it sound like avoidable interest is the total amount of interest paid for an asset. I know it's not but I was wonder

    		•
  • Q : Good international monetary system

    Explain criteria for the ‘good’ international monetary system.

    		•
  • Q : Categories of occupational crime

    Describe four categories of occupational crime.

    		•
  • Q : Different brooks of accounting Write

    Write down the different brooks of accounting?

    		•
  • Q : Prepare journal entry to record

    On December 31, 20x1, the Juniper Company purchase a group of four assets for a total cost of $850,000. An independent appraiser assesses the fair value of each asset as follows: Asset Fair Value Land $100,000 Building 600,000 Equipment 250

    		•
  • Q : Essay topics related to Religion I have

    I have some problem related to Essay topics which are related to Religion which are illustrated below: Topic A:What are the qualities of the ‘perfect&rsq

    		•
  • Q : Characteristics of straight fixed-rate

    State the characteristics of the straight fixed-rate bond market instrument.

    		•
  • Q : Function of budgetary control play in

    Describe the function of budgetary control play in cost control? And also write down the requirements for its triumphant execution?

    		•
  • Q : Identification of Responsibility Centre

    Identification of Responsibility Centre: Profit centre has been taken as the responsibility centre. Profit centre is the one in which both the revenue and costs are accounted for. The difference between them is the profit so the managers for this cent

    		•