Revenue Recognition

Business, Legal & Accounting Glossary

Definition: Revenue Recognition



Full Definition of Revenue Recognition


An accounting principle under generally accepted accounting principles (GAAP) that determines the specific conditions under which income becomes realized as revenue. Generally, revenue is recognized only when a specific critical event has occurred and the amount of revenue is measurable.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/revenue-recognition/
Modern Language Association (MLA):
Revenue Recognition. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. July 09, 2020 https://payrollheaven.com/define/revenue-recognition/.
Chicago Manual of Style (CMS):
Revenue Recognition. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/revenue-recognition/ (accessed: July 09, 2020).
American Psychological Association (APA):
Revenue Recognition. PayrollHeaven.com. Retrieved July 09, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/revenue-recognition/

Definition Sources


Definitions for Revenue Recognition are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 25th March, 2020 | 0 Views.