[Tylerr]

Right now I am in intermediate Accounting I. I am finding the concepts behind revenue recognition understandable, but to me the bookkeeping and journal entries extremely confusing and understanding them are begining to hinder my speed of progress. The book does little way in explaining why, so figuring it out as been a lot of work. Are these tested extensively on the exam? Will a future career kill me for not really understanding bookkeeping totally(I understand it usually, just this chapter is so complicated). What can I expect with relation to the revenue recognition methods. And what do current CPA’s have to say about the process of the bookkeeping related to this accounts in the audit/accounting world. If I forget some of this, or it doesnt make sense right away, am I really hurting myself?

[teeteenounouche]

Perfect NYC, I should have said to check with you on any questions, you're a human Wiley book 🙂

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[Tylerr]

teeteenounouche, you suggested I pick up a wiley book. Would something like a CPA exam review book be good, or do you mean some kind of textbook?

[Tylerr]

teeteenounouche, you suggested I pick up a wiley book. Would something like a CPA exam review book be good, or do you mean some kind of textbook?

[teeteenounouche]

Yes, Wiley is a CPA review program. They sell books for each section of the exam. I'm sure there are good text books out there that provide the same level of detail.

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[teeteenounouche]

Yes, Wiley is a CPA review program. They sell books for each section of the exam. I'm sure there are good text books out there that provide the same level of detail.

Florida:
AUD: 73, 81! Thank you Lord!
BEC: 73, 77! Thank you Lord! and WTB
REG: 71, 82! Thank you Lord! and A71
FAR: 72, 78! Thank you God and my Mommy in Heaven!

CPA Excel, Ninja Notes & Audio, Wiley Test Bank, CPAreviewforfree

[Anonymous]

Wiley is a CPA Exam Review book

[Anonymous]

Wiley is a CPA Exam Review book

[mla1169]

For your question on percentage of completion projects switch gears from why is it a percentage of profit but the entire loss recognized to asking what is the most conservative way to present net income. Then it starts to make sense. You'd be conservative by only recognizing a percentage of profit and conservative by recognizing the entire loss during the course of the project.

You'll find a lot of glitchy little things as you go through your accounting coursework. Hold onto your intermediate text after the course is over because it is a good reference when studying the CPA review materials.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[mla1169]

For your question on percentage of completion projects switch gears from why is it a percentage of profit but the entire loss recognized to asking what is the most conservative way to present net income. Then it starts to make sense. You'd be conservative by only recognizing a percentage of profit and conservative by recognizing the entire loss during the course of the project.

You'll find a lot of glitchy little things as you go through your accounting coursework. Hold onto your intermediate text after the course is over because it is a good reference when studying the CPA review materials.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[Author]

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