Working With Financial Statements

Write a 280 to 300 word paper explaining the following:

Revenue recognition principle
Expense recognition principle

Format the paper consistent with APA guidelines.

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Revenue recognition principle

A revenue recognition principle is used in accounting as it states or requires that all revenues which have been collected are to be allocated and properly recorded in various accountings records and at time which that revenue was earned by the relevant firm (Gelinas, Sutton, and Hunton, 2005). With this principle being applied in any firm there are various benefits which ensures that a given seller has…..

APA

376 words