Week 3 Discussion 2
“Revenue Recognition” Please respond to the following:
From the second e-Activity, identify the potential issues resulting if Statement No.36 had not been issued by GASB. Assess whether or not GAAP require similar treatment for revenue recognition for nongovernmental entities and provide a rationale for any differences in treatment.
Evaluate Statement No. 36 and GAAP revenue recognition requirement. Provide a rationale for the differences in accounting treatment.