ACC 290 Week 2-5 DQ2 - 87244

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Week 2-5 DQ2 What is the revenue recognition principle? What is the expense recognition principle? Why are they important to financial reporting? In order for organizations to provide reliable, relevant, and transparent financial information to owners, managers, investors, lenders, and the IRS they must use accrual based financial accounting systems. The revenue recognition principle necessitate that organizations recognize their revenue during the accounting time period that it is earned, not necessarily received. The time period that the income is earned is...
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Week 2-5
 DQ2
What is the revenue recognition principle? What is the expense recognition principle? Why

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ACC_290_Week_2_DQ2.doc
ACC_290_Week_2_...