Discussion:Revenue Recognition and Purchase Orders
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| Revision as of 01:03, 3 November 2009 UTdave1 (Talk | contribs) (Stand your groun) ← Previous diff |
Revision as of 01:12, 3 November 2009 TexCPA (Talk | contribs) (try this [[http) Next diff → |
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| {{ForumReplyPost|UserID=UTdave1|Date=3 November 2009|Text=Stand your ground. Go over with the client the rev rec rules especially that revenue is recognized when earned. Put the onus on the client to justify to you how the revenue has been earned. Even if immaterial in $ amount this is an important issue in tone at the top. This could just be an education issue - but if not and the client does not back down I would consider whether this is a client you want to be associated with.}} | {{ForumReplyPost|UserID=UTdave1|Date=3 November 2009|Text=Stand your ground. Go over with the client the rev rec rules especially that revenue is recognized when earned. Put the onus on the client to justify to you how the revenue has been earned. Even if immaterial in $ amount this is an important issue in tone at the top. This could just be an education issue - but if not and the client does not back down I would consider whether this is a client you want to be associated with.}} | ||
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| + | {{ForumReplyPost|UserID=TexCPA|Date=3 November 2009|Text=try this | ||
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| + | [[http://ftp.aicpa.org/public/download/members/div/auditstd/revrec2.pdf]] | ||
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| + | [[User:TexCPA|TexCPA]] 19:12, 2 November 2009 (CST)}} | ||
Revision as of 01:12, 3 November 2009
Discussion Forum Index --> Accounting Questions --> Revenue Recognition and Purchase Orders
Karendhill (talk|edits) said: | 3 November 2009 |
| My client is insisting on booking a purchase order as revenue for October. I prepare a monthly compilation for this client, without disclosures. I told him the revenue should not be recognized until the product is shipped in November. He doesn't care what I say about it. What is my potential liability here? | |
| 3 November 2009 | |
| Stand your ground. Go over with the client the rev rec rules especially that revenue is recognized when earned. Put the onus on the client to justify to you how the revenue has been earned. Even if immaterial in $ amount this is an important issue in tone at the top. This could just be an education issue - but if not and the client does not back down I would consider whether this is a client you want to be associated with. | |
