Discussion
Introduction
Revenue recognition criteria help ensure that an income statement reflects the actual accomplishments of a company for the period.
Initial Post Instructions
For your initial post, address the following:
• Revenue recognition for most product sales that allow the right of return occurs at the point of product delivery. Under what circumstances would revenue recognition be delayed?
• Explain the difference between monetary and nonmonetary assets and liabilities.
Secondary Post Instructions
What were some of the circumstances that your peers pointed out and how are they similar or different from the circumstances you pointed out in your post? Did your peers mention any circumstances you may not have thought of? Did you gain any new learning from reading the posts of your peers?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.