Revenue Recognition

question description
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.

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