Deferred Revenue is recorded when a company receives cash payment in advance for goods or services not yet delivered.
Revenue recognition of reserves– Create journal lines for recognizing revenue and dissolving reserves that were created when fixed assets were sold for a profit. Extraordinary depreciation proposal– Create extraordinary depreciation lines for fixed asset value models or depreciation books that have an ext...
Journal Entry Debits Credits Retained earnings— SBC expense $3.0 million Contra-equity— Unearned (deferred) Compensation $3.0 million The same thing will happen on January 1, 2020 and again one final time on January 1, 2021. So that’s the basic accounting for restricted stock under GAAP....
we need to come face to face with our competencies and deficiencies and call in outside help. For example, if we get blindsided by late-stage project failures, we shouldn't expect that our PMs can self-source a change to new project management practices. Recognizing the areas where we need...
In their typically awkward way, they are asking for our forgiveness. Upon reading this report I think any reasonable person would come away recognizing that the NPS is also asking us to find ways to insure that visitor services are beyond the reach of park officials so that we can avoid ...
Closed cell spray foam insulation’s impact on energy efficiency and sustainability extends beyond individual projects. The construction industry, as a whole, is recognizing the role this technology plays in shaping a greener and more energy-conscious future. ...
Proactive measures to boost morale include making hours and staffing models more flexible, introducing new retention incentives, and better recognizing individuals’ contributions. High inflation makes this a good time for employers to benchmark their wages to make sure they are competitive. Companies ...
the first year of operations, it expensed out $220,000 of uncollectible accounts directly. The company’s management decided to apply the percentage of receivables allowance method for recognizing bad debts expense from 31 December 20X3 onwards. Actual bad debts during the second year were $270,...
In 1995, new legislation established specific criteria for concession of electricity services, recognizing the independent producer of energy. The federal regulatory agency for the sector—an autarchy under the Ministry of Mines and Energy—is the Agência Nacional de Energia Elétrica (ANEEL), created...
The other method for writing off inventory is known as the allowance method. It may be more appropriate when inventory can be reasonably estimated to have lost value but the inventory hasn't yet been disposed of. A business will record a journal entry with a credit to a contra asset account...