Why worry about revenue and expense recognition?

/in /by

Why worry about revenue and expense recognition?

  •  Why not just recognize revenue when cash is received and expense when cash is paid?
  •  It would be much easier, but would it be better?
  •  Do you think nonprofits worry about revenues and expenses? Why?

2. Choose two concepts/topics you learned from the chapter that you found most interesting. Please briefly explain the concepts and why you found them to be the most interesting.